Zoom shares jump 8% after Q4 results

U.S. Zoom company shares have jumped by 8 percent in extended trading on Monday after announcing its results for the fiscal fourth-quarter that ended on January 31, which exceeded analysts’ estimates.

Zoom’s revenues have increased by four percent to reach $1.12 billion and earnings per share have climbed to $1.22, compared to expectations of about 81 cents, according to company’s statement.

The company incurred a loss of $104.1 million, or $0.36 per share, compared to GAAP net income attributable to common stockholders of $490.5 million, or $1.60 per share in the fourth quarter of fiscal year 2022, the report added.

Free cash flow, which is net cash provided by operating activities less purchases of property and equipment records $1,186.4 million, compared to $1,472.7 million for fiscal year 2022.