By Yasin Ebrahim
Investing.com - Zoom Video Communications (NASDAQ:ZM) rallied in after-hours Monday after posting blowout fourth-quarter results that markedly beat consensus estimates as the work-from-home trend bolstered demand for its video conference software.
Zoom Video Communications was up more than 9% in after-hours trading.
The company reported earnings $1.22 cents, up from 15 cents a year earlier, on revenue of $882.5 million, up 369%, beating estimates for earnings of $0.79 cents on revenue $811.7 million.
Revenue customers contributing more than $100,000 in trailing 12 months jumped about 156% from prior-year period, while growth in customers with more than 10 employees jumped 470% year-on-year.
"The fourth quarter marked a strong finish to an unprecedented year for Zoom. In FY2021, we significantly scaled our business to provide critical communications and collaboration services to our customers and the global community in response to the pandemic," the company said.
For the fiscal first quarter, the company sees earnings in the range of 95 cents to 97 cents on revenue of $900 million to $905 million.