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
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »