Zoom Video Communications, Inc. Q3 Profit Increases, Beats Estimates

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

The company's earnings totaled $207.05 million, or $0.66 per share. This compares with $141.21 million, or $0.45 per share, in last year's third quarter.

Excluding items, Zoom Video Communications, Inc. reported adjusted earnings of $435.07 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.6% to $1.177 billion from $1.136 billion last year.

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

-Earnings (Q3): $207.05 Mln. vs. $141.21 Mln. last year. -EPS (Q3): $0.66 vs. $0.45 last year. -Revenue (Q3): $1.177 Bln vs. $1.136 Bln last year.

-Guidance: Next quarter EPS guidance: $1.29 - $1.30 Next quarter revenue guidance: $1.175 - $1.180 bln Full year EPS guidance: $5.41 - $5.43 Full year revenue guidance: $4.656 - $4.661 bln