By Yasin Ebrahim
Investing.com - Zoom Video Communications reported Monday fourth-quarter results that beat consensus estimates on both the top and bottom lines but softer earnings guidance for the current quarter and full year pointed to slowing growth ahead.
Zoom Video Communications (NASDAQ:ZM) stock was down 9% in afterhours trading.
The company reported earnings $1.29 cents, up from $1.22 a year earlier, on revenue of $1.07 billion, up 21%, beating estimates for earnings of $1.07 per share on revenue $1.05 billion.
Customers contributing more than $100,000 in trailing 12 months revenue was up approximately 66% to 2,725 from the same quarter last fiscal year.
The company authorized a share repurchase program of up to $1.0 billion worth of shares.
Looking ahead, the company guided fiscal first quarter revenue between $1.070 billion and $1.075 billion, below consensus of $1.1 billion and earnings per share in a range of 86 cents to 88 cents, compared with estimates for revenue of $1.10 billion and earnings of $1.04 per share.
For the full-year revenue was expected to be between $4.530 billion and $4.550 billion and earnings between $3.45 and $3.51 share, below Wall Street estimates for earnings of $4.40 per share on revenue of $4.73 billion.