Zoom Video Communications 4Q Sales Steady, Profit Beats Expectations
February 28 2022 - 3:51PM
Dow Jones News
By Denny Jacob
Zoom Video Communications Inc. reported steady sales and
better-than-expected profit in its fiscal fourth quarter.
The video communications platform company posted net income of
$490.5 million, or per-share earnings of $1.60, compared with of
$260.4 million, or per-share earnings of 87 cents. Adjusted
per-share earnings were $1.29. Analysts polled by FactSet expected
$1.07.
Revenue rose to $1.07 billion for the three months ended Jan. 31
from $882.5 million for the year-ago period. Analysts polled by
FactSet expected $1.05 billion.
The company said it had 2,725 customers contributing more than
$100,000 in trailing 12 months revenue. Zoom said it had
approximately 509,800 customers with more than 10 employees, up
about 9% from the prior-year quarter.
"Looking forward, we are addressing a large opportunity as we
expect customers will continue to transform how they work and
engage with their customers. It is apparent that businesses want a
full communications platform that is integrated, secure, and easy
to use," Chief Executive Eric S. Yuan said in prepared remarks.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 28, 2022 16:36 ET (21:36 GMT)
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