Video communication software provider zoom shares rose more than 10% after hours on Monday after the company reported better than expected first quarter earnings and issued optimistic performance guidelines. According to the financial report, zoom's earnings per share in the first quarter were $1.03, and the market expected 87 cents; Revenue increased by 12% to US $1.07 billion, and the market expected US $1.07 billion, lower than the increase of nearly 200% in the same period last year.
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Zoom's first quarter earnings exceeded market expectations and gave higher than market expectations for the current quarter and full year performance guidelines, indicating that the company can reduce costs in the case of slower growth.
Zoom currently predicts that the revenue in the second quarter will be between us $1.115 billion and US $1.12 billion, with an increase of at least 9.2%, and the market is expected to increase by 8.7% to US $1.1 billion; Earnings per share are expected to be between 90 cents and 92 cents, higher than the 87 cents expected by the market.
Zoom also expects the revenue of the whole fiscal year to be between us $4.53 billion and US $4.55 billion, and the market is expected to be US $4.55 billion; Earnings per share are expected to be between $3.70 and $3.77, and the market is expected to be $3.53.
As of Monday's close, zoom's share price has fallen by about 85% from its peak in October 2020 and more than 50% so far this year.
