Zoom Beats on Earnings, Revenue in Q4

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© Reuters. © Reuters.

By Yasin Ebrahim

Investing.com – Videoconferencing software company Zoom delivered better-than-expected guidance following fourth-quarter results that beat on both the top and bottom lines amid a surge in customers using its platform.

Zoom Technologies (OTC:) fell 6% in after-hours trading.

The company reported fiscal of 15 cents per share on revenue of $188.3 million, beating consensus estimates for earnings of 7 cents per share on revenue $176.6 million.

The number of customers paying Zoom over $100,000 rose to 641 for the quarter, up 86% from a year earlier, with total customers rising 61% to 81,900.

Looking ahead to the first quarter, the company forecast revenue within a range of $199 million and $201.0 million and earnings per share of $0.10. That compared with consensus estimates for earnings per share of $0.06 and $185.7 million in revenue.

For the full 2021 fiscal year, Zoom guided earnings per share in the range of 42 cents to 45 cents on revenue of $905 million to $915 million.

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