Zoom Video Communications 4Q Sales Steady, Profit Beats Expectations

By Denny Jacob

Zoom Video Communications Inc. reported steady sales and better-than-expected profit in its fiscal fourth quarter.

The video communications platform company posted net income of $490.5 million, or per-share earnings of $1.60, compared with of $260.4 million, or per-share earnings of 87 cents. Adjusted per-share earnings were $1.29. Analysts polled by FactSet expected $1.07.

Revenue rose to $1.07 billion for the three months ended Jan. 31 from $882.5 million for the year-ago period. Analysts polled by FactSet expected $1.05 billion.

The company said it had 2,725 customers contributing more than $100,000 in trailing 12 months revenue. Zoom said it had approximately 509,800 customers with more than 10 employees, up about 9% from the prior-year quarter.

"Looking forward, we are addressing a large opportunity as we expect customers will continue to transform how they work and engage with their customers. It is apparent that businesses want a full communications platform that is integrated, secure, and easy to use," Chief Executive Eric S. Yuan said in prepared remarks.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

February 28, 2022 16:36 ET (21:36 GMT)

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