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Zoom Video: Fiscal Q1 Earnings Snapshot
By Ap News - May 20, 2024, 04:18 PM ET
Last Updated - May 20, 2024, 04:18 PM EDT
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Zoom Video Communications Inc. (ZM) on Monday reported fiscal first-quarter net income of $216.3 million.
The San Jose, California-based company said it had net income of 69 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were $1.35 per share.
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The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The video-conferencing company posted revenue of $1.14 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $1.13 billion.
For the current quarter ending in July, Zoom Video expects its per-share earnings to range from $1.20 to $1.21.
The company said it expects revenue in the range of $1.15 billion for the fiscal second quarter.
Zoom Video expects full-year earnings in the range of $4.99 to $5.02 per share, with revenue ranging from $4.61 billion to $4.62 billion.
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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
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