Zoom Video Communications Inc (NASDAQ: ZM) has sustained value growth despite the market turbulence. The followed societal shift in favor of working from home amid the global coronavirus outbreak. The company, like other tech companies offering videoconferencing services, has recently experienced a surge in investor optimism.
Earlier in the month, Zoom offered its guidance for the year that was stronger than what most analysts were projecting. The company’s management stated that for the fiscal year 2021, it expects earnings of between $0.42 and $0.45 per share. This represents projected revenues of between $905 million and $915 million.
The company also reported strong revenue growth in Q4. It announced that total revenues for Q4 grew by 78% compared to a year earlier to stand at $188.3 million. The company also reported that GAAP income from operations in Q4 stood at $10.6 million, a significant increase compared to $5.5 million in Q4 of the 2019 financial year.
The company also reported that net income attributable to common stock for Q4 stood at $15.3 million, or an EPS of $0.05.This was a significant increase compared to a net income of $1.2 million, or $0.01 per share in Q4 of the previous year. The company also reported that net cash from operations stood at $36.6 million in Q4, compared to $16 million in Q4 of the previous year. The company also reported growth in customer numbers, standing at 81,900 clients in Q4. This represented an increase of 61% compared to a similar quarter in the previous financial year.
Looking at its price action, ZM is in an uptrend. In Friday’s session, it opened the day at $129 and traded between a low of $124 and a high of $135.98, before closing at $130.55. Volumes in the day stood at 13.87 million.
About Zoom Video Communications Inc
Zoom Video Communications Inc is a video communications platform. It is based in San Jose, California.