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Investing.com -- Zoom Video Communications Inc (NASDAQ:ZM) reported a better that expected fourth-quarter earnings, but shares were down around 3% in afterhours trading as its guidance came in below analysts' estimates.
The video conferencing company posted adjusted earnings per share of $1.41 for the quarter ended Jan. 31, exceeding analysts' estimates of $1.30. Revenue was up 3.3%, in line with expectations at $1.18 billion.
Zoom expects adjusted earnings per share between $1.29 and $1.31 for the first quarter, compared with the consensus estimate of $1.31.
While its revenue forecast, which is in the range of $1.162 billion to $1.167 billion, was below analysts' expectations of $1.175 billion.
For the full year, the company projected earnings of $5.34 to $5.37 per share, missing the average estimate of $5.56. It sees revenue for the yearof $4.785 billion to $4.795 billion versus the consensus forecast of $4.84 billion.
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Zoom beats Q4 profit estimates, but shares down 3% on dour guidance