Zoom reports strong Q4 results
Zoom reported better-than-expected fourth quarter monetary outcomes on Wednesday amid surging demand for its video conferencing software program as a result of COVID-19 coronavirus outbreak.
The San Jose-based firm reported fourth-quarter non-GAAP earnings of 15 cents per share on income of $188.three million, up 78%. Wall Avenue was in search of non-GAAP This fall earnings of seven cents per share on income of $176.5 million.
For the 12 months, Zoom’s income got here to $622.7 million, up 88%, with non-GAAP earnings of 35 cents. Each numbers got here in above analyst estimates.
On the finish of This fall, Zoom mentioned it had 81,900 prospects with greater than 10 workers and had 641 prospects spending greater than $100,000 for the trailing 12 months.
For the present quarter, Zoom expects income to be between $199 million and $201 million with non-GAAP earnings of 10 cents a share. Analysts expect Q1 income of $185.68 million with a non-GAAP earnings of a 6 cents.
The corporate projected fiscal 2021 income to be between $905 million to $915 million with non-GAAP earnings between 42 cents and 45 cents a share. Shares of Zoom have been down as a lot as 10% in after market buying and selling.
Zoom CEO Eric Yuan told CNBC final month that the corporate was seeing an enormous enhance in demand for its video conferencing software program as extra companies turned to distant work due to the coronavirus outbreak. Zoom’s shares have been greater than 70% for the 12 months previous to the discharge of its monetary outcomes. Zoom’s present quarter will mirror the gross sales and buyer positive factors that it is seen for the reason that begin of the outbreak.
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