(Zoom) Shares of Zoom Video Communications rose more than 6% in premarket on Tuesday after its first-quarter earnings came at $1.033 per share. Despite being lower than $1.32 per share in the prior year, the earnings were higher than estimates of $0.87 per share.
Zoom said that its GAAP net income was $113.6 million, which was lower than an income of $227.4 million in the prior year.
The company’s revenue in the quarter came at $1.074 billion, an increase of 12% from the prior year.
Zoom posted strengths in its customer metrics after reporting 198,900 Enterprise customers, representing an increase of 24% from the prior year. The trailing 12-month net dollar increase rate for Enterprise customers was 123%.
The company posted 2,916 customers contributing over $100,000 in the trailing 12 months revenue, an increase of 46% from the prior year.
Following a robust quarter, Zoom said it projects revenue of between $1.115 billion to $1.120 billion in the second quarter. Non-GAAP diluted EPS is expected within the range of $0.90 to $0.92.
For FY22, revenue is expected at between $4.530 billion and $4.550 billion. Non-GAAP diluted EPS is expected within the range of $3.70 to $3.77.
ZM: NASDAQ is up +6.50% in premarket.
