Analysts had expected revenue of $111.4 million with adjusted earnings per share of just under 1 cent, compared to Zoom’s confirmed earnings of 3 cents per share.įor the full year, San Jose-based Zoom expects total revenue of between $535 million and $540 million and non-GAAP income (loss) from operations of between $0 and $3 million.Is Zoom Video Communications stock a Buy, Sell or Hold? In its first earnings report, the company beat expectations once again. The company priced its IPO back in April at a meager $36 per share only to pop 81% at its Nasdaq debut. Zoom, once a relatively under-the-radar tech unicorn, continues to defy expectations. If we keep them happy, we believe we will succeed today and in the future.” “Delivering happiness to our customers is our number one priority. “In our first quarter as a public company, strong execution and expanding adoption of Zoom’s video-first unified communications platform drove total revenue growth of 103% year-over-year,” Zoom founder and chief executive officer Eric Yuan said in a statement. The stock has been trading at more than double its initial offering price in the two months following its IPO. Zoom closed up 2% Thursday at just over $79 per share.

The Zoom stock is rising in after-hours trading following the news. The profitable video communications business, which went public this April in one of the year’s most successful initial public offerings, posted revenues of $122 million for the three months ended April 30, 2019, representing a year-over-year increase of 109%.

The company outperformed analyst expectations with the release of its first earnings report on Thursday. 2019 is a great year for Zoom (Nasdaq: ZM).

Zoom stock earnings