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Zoom Video Communications Inc. (ZM) reported its fourth-quarter 2021 financial results after the closing bell over in the US on Monday.
The US based company, which offers a cloud-based video conferencing service reported total revenue of $1.071 billion (up by 21% year-over-year), which was above analyst estimate of $1.054 billion.
Earnings per share also exceeded estimates at $1.29 per share vs. $1.07 expected.
”In fiscal year 2022, we delivered strong results with total revenue of more than $4 billion growing 55% year over year along with increased profitability and operating cash flow growth as our global customer base continued to grow and find new use cases for our broadening communications platform,” Founder and CEO of Zoom, Eric S. Yuan said in a statement following the latest results.
”Looking forward, we are addressing a large opportunity as we expect customers will continue to transform how they work and engage with their customers. It is apparent that businesses want a full communications platform that is integrated, secure, and easy to use. We are proud to lead the charge of the digital transformation for communications. To sustain and enhance our leadership position, in fiscal year 2023 we plan to build out our platform to further enrich the customer experience with new cloud-based technologies and expand our go-to-market motions, which we believe will enable us to drive future growth,” Yuan added.
Zoom Video Communications Inc. (ZM) chart
Shares of Zoom were up by 5.81% at the end of trading on Monday at $132.50 per share.
Here is how the stock has performed in the past year –
Zoom Video Communications Inc. is the 460th largest company in the world with total market cap of $39.51 billion.
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Sources: Zoom Video Communications Inc., TradingView, MetaTrader 5, CompaniesMarketCap
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