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Zoom's founder, Eric Yuan, reacts to the opening ceremony of the Nasdaq bell on April 18, 2019 in New York.
Kena Betancur | Getty Images
Zoom advanced 12% on Thursday, after the video conference company reported better-than-expected financial results and delivered optimistic forecasts in its first earnings announcement since its April release.
Here are the key figures for Zoom's first fiscal quarter:
- Earnings: 3 cents per share, excluding certain items. (CNBC does not compare earnings with estimates for first income reports.)
- Returned: 122.0 million USD, against 111.7 million USD as expected by badysts, according to Refinitiv.
Zoom's business revenue more than doubled during the quarter as companies of all sizes were connected to the company's software, which runs on multiple devices, including smartphones. CEO Eric Yuan previously wrote code for the competing WebEx service, purchased by Cisco in 2007.
The company said it expects earnings of 1 cent to 2 cents a share, excluding certain items in the second quarter, on revenues of $ 129 to $ 130 million. Analysts surveyed by Refinitiv were expecting Zoom to reach the breakeven point of the quarter, with a business figure of $ 122.1 million.
The Zoom forecast for the entire fiscal year was earnings per share of 2 cents to 3 cents, excluding certain items, and a turnover of $ 535 million. $ 540 million. Consensus estimates of Refinitiv were a loss of 3 cents per share, excluding certain items, and an income of $ 520.3 million.
Zoom was profitable at the time of its IPO in April, which distinguished it from most technology companies that had sought to go public in recent years.
"We are confident that the combination of highly efficient sales and marketing, a superior product to its direct competitors and a significant long-term market opportunity highlights Zoom as a leading supplier for the future, "Stifel badysts, led by Tom Roderick, wrote in May. They placed a "hold" rating on the stock.
The shares of Zoom have increased more than 120% over the price of $ 36 she sold the shares of the IPO. The main risk of Zoom for shareholders is valuation, wrote Patrick Walravens of JMP Securities last month when he initiated the hedge with a "market perform" rating.
In the first quarter of the year, Zoom's 405 customers had sales of more than $ 100,000 in the past year, up from 344 a quarter earlier.
Leaders will discuss the results with badysts at a 17:00 teleconference. Eastern Time.
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