Proactive Investors - Zoom Video Communications Inc (NASDAQ:ZM) shares moved more than 12% higher after Monday’s closing bell as the video communications platform provider projected a larger-than-expected profit for the current quarter.
For the fiscal first quarter of 2025, Zoom expects adjusted earnings per share (EPS) between $1.18 and $1.20, above expectations of $1.13.
It expects revenue of $1.13 billion, in line with Wall Street analyst estimates.
Meanwhile, Zoom reported mixed results for the fiscal fourth quarter ended January 31, 2024.
4Q revenue rose 2.6% year-over-year to $1.15 billion, above estimates of $1.13 billion but adjusted EPS of $1.15 fell short of estimates of $1.22.
For the full year fiscal 2024, Zoom posted adjusted EPS of $4.37 on revenue of $4.53 billion, short of estimates of $4.64 on $4.63 billion, respectively.
Shares of Zoom traded 12.3% higher at about $71 shortly after the release of its results.