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- Zoom shares rose 11% in extended trading Monday after the company reported fiscal fourth-quarter earnings.
- Zoom beat on the top and bottom lines, showing sequential revenue growth.
- The company sees 42% revenue growth for the fiscal year ahead, even as life is expected to look more like it did before the pandemic.
Zoom shares rose as much as 11% in extended trading on Monday after the video-calling software maker reported fiscal fourth-quarter earnings and guidance that were stronger than analysts had expected.
Here’s how the company did:- Earnings: $1.22 per share, adjusted, vs. 79 cents per share as expected by analysts, according to Refinitiv
- Revenue: $882.5 million, vs. $811.8 million as expected by analysts, according to Refinitiv
Revenue grew 369% year over year in the quarter that ended on Jan. 31, according to a statement. In the year-ago quarter people began to use Zoom more heavily as the Covid-19 virus emerged in China, leading to the World Health Organization calling the virus a pandemic in March 2020. In the previous quarter revenue had grown some 367%.
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