Zoom shares jump as quarterly results beat on top and bottom lines
Publishing timestamp: 2024-02-26 18:14:38
Summary
Zoom beat estimates for fiscal fourth quarter, with shares rising 13% in extended trading. Growth would have been faster if not for sales reorganization. Company reported net income of $298.8 million, compared to a net loss in the year-ago quarter. Zoom's Team Chat migration tool has seen a 4x increase in downloads. For fiscal first quarter, Zoom expects adjusted earnings per share of $1.18 to $1.20 on $1.125 billion in revenue. For 2025 fiscal year, Zoom sees adjusted earnings per share of $4.85 to $4.88 with $4.60 billion in revenue.
Sentiment: POSITIVE
Tickers: ZM,
Keywords: breaking news: earnings, earnings, business news, enterprise, business, breaking news: technology, zoom video communications inc, technology,
Source: https://www.cnbc.com/2024/02/26/zoom-zm-q4-earnings-report-2024.html