Zoom Video Earnings: ZM Stock Soars 7% Higher on Strong Q2 EPS, Revenue

Zoom Video (NASDAQ:ZM) earnings for the video conference company’s second quarter of fiscal 2021 have ZM stock heading higher after-hours Monday. That’s thanks to its adjusted earnings per share of 92 cents stomping Wall Street’s estimate of 45 cents. Its revenue of $663.52 million also blows past analysts’ estimate of $500.45 million.

zoom (ZM) logo on a building

Source: Michael Vi / Shutterstock.com

Here are some additional highlights from the most recent Zoom Video earnings report.

  • Adjusted per-share earnings are up 1,050% from 8 cents in the second quarter of fiscal 2020.
  • Revenue for the quarter comes in 355% higher than the $145.83 million in the same period of the year prior.
  • Operating income of $188.1 million is an 8,186.3% increase year-over-year from $2.27 million.
  • The Zoom Video earnings report also has net income coming in at $185.99 million.
  • That’s a 3,269.4% jump from the company’s net income of $5.52 million from the same time last year.

Eric Yuan, founder and CEO of Zoom Video, said this about the earnings report.

“Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355% year-over-year in Q2 and enabled us to increase our revenue outlook to approximately $2.37 billion to $2.39 billion for FY21, or 281% to 284% increase year-over-year.”

Zoom Video also includes guidance for fiscal 2021 in its earnings report. It expects adjusted EPS of $2.40 to $2.47 on revenue of $2.37 billion and $2.39 billion. For comparison, Wall Street is looking for adjusted EPS of $1.30 on revenue of $1.81 billion.

ZM stock was up 7% after-hours Monday following an 8.6% increase during normal trading hours.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/zoom-video-earnings-push-zm-stock-higher/.

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