ZoomInfo (NASDAQ:ZI) reported third-quarter results that beat analyst expectations, but shares fell in after-hours trading as revenue declined YoY and guidance was almost in line with consensus.
At 16:15 EST (21:15 GMT), ZI shares were down 8.3%.
The go-to-market platform provider posted adjusted earnings per share of $0.28, surpassing the analyst estimate of $0.22. Revenue for the quarter came in at $303.6 million, above the consensus estimate of $299.35 million but down 3% compared to the same period last year.
ZoomInfo's fourth-quarter guidance was roughly in line with analyst expectations. The company forecasts Q4 EPS of $0.22-$0.23, compared to the consensus of $0.23, and revenue of $296-299 million versus the consensus of $296.9 million.
"We continued our move up-market, fueled by ZoomInfo Copilot and Operations growth, and we delivered strong financial results while improving the quality of new customers that we are bringing in," said Henry Schuck, ZoomInfo founder and CEO.
The company reported an adjusted operating income margin of 37% for the quarter. ZoomInfo closed the period with 1,809 customers with $100,000 or greater in annual contract value, an increase of 12 from the prior quarter.
During Q3, ZoomInfo repurchased approximately 24.5 million shares of common stock, accounting for about 7% of total shares outstanding, at an average price of $9.89 per share.
For the full year 2024, ZoomInfo raised its guidance slightly, projecting EPS of $0.92-$0.93 compared to the consensus of $0.88, and revenue of $1.201-1.204 billion versus the consensus of $1.198 billion.
This content was originally published on Investing.com
