By Yasin Ebrahim
Investing.com - Zoom Video Communications (NASDAQ:ZM) surged in afterhours Monday after delivering strong guidance following first-quarter earnings that beat Wall Street estimates.
Zoom Video Communications was up about 15% following the report.
Zoom Video Communications reported EPS of $1.03 on revenue of $1.07 billion, compared with expectations for EPS of 88 cents on revenue of $1.07 billion.
The beat on the top and bottom lines were driven by "ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3 million seats during the quarter," the company said.
Revenue customers contributing more than $100,000 in the trailing 12 months jumped about 46% from the prior-year period, while customers with more than 10 employees jumped 87% year-on-year.
For the second-quarter, EPS was estimated in a range of $0.90 to $0.92 on revenue of about $1.12 billion. That compared with estimates for EPS of $.87 on revenue of $1.11 billion.
For the full year, EPS was expected between $3.70 and $3.77 on revenue of of between $4.530 billion and $4.550 billion. That compared with prior EPS of between $3.45 and $3.51.