SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Zoom Communications Inc. (ZM) on Wednesday reported fiscal first-quarter earnings of $254.6 million.
On a per-share basis, the San Jose, California-based company said it had net income of 81 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.43 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The video-conferencing company posted revenue of $1.17 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $1.16 billion.
For the current quarter ending in July, Zoom expects its per-share earnings to range from $1.36 to $1.37.
The company said it expects revenue in the range of $1.2 billion for the fiscal second quarter.
Zoom expects full-year earnings in the range of $5.56 to $5.59 per share, with revenue ranging from $4.8 billion to $4.81 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZM at https://www.zacks.com/ap/ZM
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