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Zoom Video Communications (ZM) Q1 profit beats estimates, guides Q2 above view
Zoom Video Communications Inc. (NASDAQ: ZM) reported its financial results for the quarter ended April 30, 2020, on Tuesday after the market closes. The results exceeded analysts’ expectations. The company issued second-quarter guidance above-consensus view.
Zoom Video posted a jump in earnings for the first quarter of 2021 driven by higher revenue. The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom. The top-line soared by 169% year-over-year.
Looking ahead into the Q2, the company expects total revenue in the range of $495-500 million and adjusted earnings in the range of $0.44-0.46 per share. For fiscal 2021, the company predicts total revenue in the range of $1.775-1.8 billion and adjusted earnings in the range of $1.21-1.29 per share.
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