SAN JOSE, Calif. (AP) _ Zoom Video Communications Inc. (ZM) on Tuesday reported fiscal first-quarter earnings of $227.4 million.
The San Jose, California-based company said it had profit of 74 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.32 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The video-conferencing company posted revenue of $956.2 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $905.2 million.
For the current quarter ending in August, Zoom Video expects its per-share earnings to range from $1.14 to $1.15.
The company said it expects revenue in the range of $985 million to $990 million for the fiscal second quarter.
Zoom Video expects full-year earnings in the range of $4.56 to $4.61 per share, with revenue ranging from $3.98 billion to $3.99 billion.
Zoom Video shares have decreased 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $327.33, an increase of 82% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZM at https://www.zacks.com/ap/ZM
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