Zoom Video Communications Inc.’s stock climbed in extended trading Monday, after the videoconferencing company topped expectations across the board with its financial results and forecasts. Zoom
rang up fiscal second-quarter net income of $182 million, or 59 cents a share, on revenue of $1.14 billion, up from $1.1 billion a year ago. After adjusting for stock compensation and other effects, Zoom reported earnings of $1.34 a share, up from $1.05 a share last year and topping analysts’ expectations.
Analysts surveyed by FactSet had on average expected adjusted net income of $1.06 a share on revenue of $1.11 billion. Zoom forecast third-quarter adjusted earnings of $1.07 to $1.09 a share on revenue of $1.12 billion to $1.21 billion, while analysts on average were projecting $1.03 a share on sales of $1.06 billion, according to FactSet. For the full year, the company predicted adjusted earnings of $4.63 to $4.67 a share on revenue of $4.49 billion to $4.5 billion, while analysts on average were expecting $4.32 a share on sales of $4.5 billion. “In addition to delivering innovation to our customers, in Q2 we delivered GAAP EPS of $0. …