Zoom Video Communications, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Zoom Video Communications, Inc. (ZM) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $254.60 million, or $0.81 per share. This compares with $216.31 million, or $0.69 per share, last year.

Excluding items, Zoom Video Communications, Inc. reported adjusted earnings of $448.29 million or $1.43 per share for the period.

Analysts on average had expected the company to earn $1.31 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.9% to $1.174 million from $1.141 million last year.

Zoom Video Communications, Inc. earnings at a glance (GAAP) :

-Earnings: $254.60 Mln. vs. $216.31 Mln. last year. -EPS: $0.81 vs. $0.69 last year. -Revenue: $1.174 Mln vs. $1.141 Mln last year.