Zoom Video Communications Q1 Results Beat; Lifts Full-Year Guidance

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Investing.com – Zoom Video Communications reported Tuesday first-quarter results that beat consensus estimates, and raised its full-year guidance, easing concerns about peak demand as the work from home trend eases. 

Zoom Video Communications (NASDAQ:ZM) was down about 3% following the report.

Zoom Video Communications posted EPS of $1.32 on revenue of $956 million, compared with expectations for EPS of 99 cents on revenue of $907 million.  

Revenue customers contributing more than $100,000 in trailing 12 months jumped about 160% from prior-year period, while growth in customers with more than 10 employees jumped 87% year-on-year.

For the second-quarter, EPS was estimated in a range of $1.14 to $1.15 on revenue of $985 to $909 million.  

“With this solid start, we are pleased to raise our total guidance range to $3.975 billion to $3.990 billion for the full fiscal year,” the company said.

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