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Zoom Video Communications, Inc. (NASDAQ:ZM) posted better-than-expected reported second-quarter financial results on Wednesday.
Zoom reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.21 by 14.88%. Quarterly revenue of $1.16 billion also beat the consensus estimate and is a 2.09% increase from the same period last year.
"In Q2, we outperformed our guidance across the board and grew operating cash flow and free cash flow by 33.7% and 26.2% year over year, respectively, demonstrating our continued commitment to efficient growth," said Eric S. Yuan, Zoom CEO.
Zoom sees third-quarter earnings per share between $1.29 and$1.31, versus the $1.24 estimate, and revenue in a range of $1.16 billion to $1.165 billion, versus the $1.16 billion estimate.
The company expects fiscal year 2025 earnings per share of between $5.29 and $5.32, versus the $5.05 estimate, and full-year revenue in a range of $4.63 billion to $4.64 billion, versus the $4.62 billion estimate.
Zoom Video shares gained 12.4% to trade at $67.69 on Thursday.
These analysts made changes to their price targets on Zoom Video following earnings announcement.
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