(RTTNews) - Shares of Zoom Video Communications Inc., (ZM) a provider of video-first unified communications, are climbing more than 12% Thursday morning on better-than-expected fourth-quarter earnings. Outlook for the first quarter and full-year also remain better than the Street view.
Net income for the fourth quarter was $15.3 million, or $0.05 per share, compared with $1.2 million, or $0.01 per share last year. Excluding items, earnings of $0.15 per share surpassed the average estimate of 17 analysts polled by Thomson Reuters of $0.07.
Fourth-quarter revenue was up 78% year-over-year to $188.3 million.
For the first quarter, revenue is expected to be between $199 million and $201 million and adjusted EPS is expected to be approximately $0.10. Analysts see earnings of $0.06 on revenue of $185.68 million.
For the full-year, revenue is anticipated in the range of $905 million to $915 million and adjusted EPS is expected to be between $0.42 and $0.45. The consensus estimate for earnings is at $0.3 on revenue of $868.37 million.
ZM has touched a new high of $129.79 today and is currently trading at $129.10
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