By Yasin Ebrahim
Investing.com - Zoom Video Communications reported Tuesday first-quarter results that beat consensus estimates, and raised its full-year guidance, easing concerns about peak demand as the work from home trend eases.
Zoom Video Communications (NASDAQ:ZM) was down about 3% following the report.
Zoom Video Communications posted EPS of $1.32 on revenue of $956 million, compared with expectations for EPS of 99 cents on revenue of $907 million.
Revenue customers contributing more than $100,000 in trailing 12 months jumped about 160% from prior-year period, while growth in customers with more than 10 employees jumped 87% year-on-year.
For the second-quarter, EPS was estimated in a range of $1.14 to $1.15 on revenue of $985 to $909 million.
"With this solid start, we are pleased to raise our total guidance range to $3.975 billion to $3.990 billion for the full fiscal year," the company said.