Zoom had more profit and revenue than analysts had expected in the October quarter, and executives pushed up the company's full-year forecast.shares were flat in extended trading on Monday after the video calling software maker announced strong fiscal third-quarter results and gave guidance in line with expectations.Sign up for NBC Philadelphia's News Headlines newsletter..
Net income, at $207.1 million, or 66 cents per share, was up from $141.2 million, or 45 cents per share, in the same quarter a year earlier.With respect to guidance, Zoom called for $1.29 to $1.30 in fiscal fourth-quarter adjusted earnings per share on $1.175 billion to $1.180 billion in revenue. Analysts surveyed by LSEG were expecting $1.29 per share and $1.17 billion in revenue.
Zoom bumped up its view for the 2025 fiscal year. It expects $5.41 to $5.43 in adjusted earnings per share, with $4.656 billion to $4.661 billion in revenue. The middle of the revenue range implies about 3% growth.As of Monday's close, Zoom stock was up about 24% this year, while the S&P 500 index had gained 25%.
The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc.Wall Street launches new ways to bet on bitcoin
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