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Zoom Video’s Results Beat Wall Street Forecasts

Zoom Video Communications (ZM) has beat Wall Street expectations with its third-quarter financial results.

The company reported earnings per share (EPS) $1.29 U.S. a share, well ahead of consensus forecasts for $1.08 U.S. per share.

Revenue in the quarter came in at $1.137 billion U.S., up 3.2% from a year ago and ahead of analyst expectations of $1.119 billion U.S.

Zoom said that the number of customers contributing more than $100,000 U.S. in revenue on a trailing 12-month basis was up 13.5% from a year earlier. The company finished the quarter with $6.5 billion U.S. in cash on hand.

Looking ahead, Zoom forecast revenue of $1.125 billion U.S. to $1.13 billion U.S., and profits of $1.13 U.S. to $1.15 U.S. a share.

The outlook was ahead of Wall Street consensus views that called for revenue of $1.129 billion U.S. and a profit of $1.09 U.S. per share.

Prior to today (Nov. 21), Zoom’s stock was flat on the year (down 0.27%) and trading at $66 U.S. per share.