Latest News by Industry
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Zoom Video Communications Inc. (ZM) on Monday reported a loss of $104.1 million in its fiscal fourth quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 36 cents. Earnings, adjusted for one-time gains and costs, came to $1.22 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The video-conferencing company posted revenue of $1.12 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.1 billion.
For the year, the company reported profit of $103.7 million, or 34 cents per share. Revenue was reported as $4.39 billion.
For the current quarter ending in April, Zoom Video expects its per-share earnings to range from 96 cents to 98 cents.
The company said it expects revenue in the range of $1.08 billion to $1.09 billion for the fiscal first quarter.
Zoom Video expects full-year earnings in the range of $4.11 to $4.18 per share, with revenue ranging from $4.43 billion to $4.46 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ZM">Zacks stock report on ZM at https://www.zacks.com/ap/ZM