By Yasin Ebrahim
Investing.com - Videoconferencing software company Zoom delivered better-than-expected guidance following fourth-quarter results that beat on both the top and bottom lines amid a surge in customers using its platform.
Zoom Video Communications Inc (NASDAQ:ZM) fell 6% in after-hours trading.
The company reported fiscal fourth-quarter earnings of 15 cents per share on revenue of $188.3 million, beating consensus estimates for earnings of 7 cents per share on revenue $176.6 million.
The number of customers paying Zoom over $100,000 rose to 641 for the quarter, up 86% from a year earlier, with total customers rising 61% to 81,900.
Looking ahead to the first quarter, the company forecast revenue within a range of $199 million and $201.0 million and earnings per share of $0.10. That compared with consensus estimates for earnings per share of $0.06 and $185.7 million in revenue.
For the full 2021 fiscal year, Zoom guided earnings per share in the range of 42 cents to 45 cents on revenue of $905 million to $915 million.