Eric Yuan made a toast after the opening bell ceremony.
The video-chat company reported better-than- expected earnings on Monday, but warned investors of a revenue decline as the Pandemic ends.
The company did it.
The adjusted earnings were $1.11 per share, which was higher than the analysts' expectation of $1.09 per share.
Analysts had expected revenue to be $1.02 billion.
Revenue increased in the third quarter from a year earlier, but at a slower rate than in the prior period. Net income increased to $340.3 million, according to a statement.
For the fourth quarter of the fiscal year, the forecast is for adjusted earnings of $1.06 to $1.07 per share on $1.051 billion to $1.053 billion in revenue. The analysts had expected adjusted earnings per share to be around $1.
The company's stock price moved higher last year as it expanded from a contender in a narrow category of business software to a fabric of culture. Millions of people adopted its software to remotely attend classes and meet after the coronaviruses epidemic made those types of gatherings difficult.
The quarter that ended in January had revenue growth of over 300%. Before its initial public offering, the growth of the company has slowed.
The company said it had called off its plan to acquire Five9 for $14.7 billion. The cloud contact center software would be launched in early 2022.
The S&P 500 index is up 25% over the same period, while Zoom shares are down 28%. The results will be discussed on a call. The time is later.
This is breaking news. You can check back for updates.
The CEO of Five9 explains why the deal failed.
