Focus on video highlights, revenue estimates; Rally Shares By Investing.com

Investing.com – Zoom Video Communications (NASDAQ 🙂 came back after the commercialization, as the video platform company outperformed forecasts and profit forecasts as customers ramped up.

In its first report as a publicly traded company, Zoom Video generated $ 0.03 per share for a business turnover of $ 122 million, exceeding Capital IQ's expectations for a profit of 1 cent per share on a turnover of 111.7 million-hours of trading.

The better than expected results resulted from an 86% increase in the number of customers, which reached 58,500, of which 405 generated a turnover of over $ 100,000 over 12 months, up from 120 % compared to the same quarter of the previous year.

In the future, the company has issued upward forecasts for the second quarter. Earnings per share are in the range of $ 0.01 to $ 0.02, which is in line with estimates, while estimated earnings of $ 129 to $ 130 million exceeded expectations at $ 122.06 million.

For the year, the company posted a profit of between 0.02 and 0.03 USD, compared to an expected loss of 0.01 USD. Revenue projections of $ 535 million to $ 540 million were well ahead of estimates of $ 520.25 million.

Zoom, which was released in April, has been hailed by analysts because it is one of the first companies to generate profits. Pinterest (NYSE :), Uber (NYSE 🙂 and Lyft (NASDAQ :), which have also been made public in recent months, are in the red.

Analysts have presented Zoom as a potential leader in videoconferencing compared to competitors such as LogMeIn.

Zoom closed the regular session at $ 79.43, up 1.28%, and remains well above the price of its IPO of $ 36.