ZoomInfo Technologies Inc. (NASDAQ:ZI) shares rose more than 11% yesterday, following the company’s reported Q2 results, with EPS coming in at $0.21, beating the Street estimate of $0.18. Revenue increased 54% year-over-year to $267.1 million, compared to the Street estimate of $254.63 million.

The company anticipates Q3/22 EPS to be in the range of $0.19-$0.22, compared to the Street estimate of $0.19, and revenue in the range of $277-279 million, compared to the Street estimate of $270.21 million.

For the full 2022-year, management sees EPS in the range of $0.78-$0.80, compared to the Street estimate of $0.76, and revenue in the range of $1.08-1.09 billion, compared to the Street estimate of $1.06 billion.

While 2022 guidance was raised beyond the beat, it was by a smaller magnitude than in recent quarters. However, analysts at Deutsche Bank believe the quarterly results are sufficient to drive the shares higher given modest embedded expectations, particularly given investor concerns around Software industry customer concentration.

While management acknowledged some deal cycle elongation given the macro picture, the company’s strong value proposition, rapid ROI, and efficient selling motion are helping offset macro headwinds.

Advanced Micro Devices Reports Q2 Beat, Provides Guidance

Published at 2022-08-03 18:29:00

By Davit Kirakosyan

Other News

Airbnb Reports Q2 EPS Beat, Revenues In Line, Provides Guidance

2022-08-03 18:33:00

ZoomInfo Technologies Shares Surge 11% on Q2 Beat & Raise

2022-08-03 07:00:00

What to Expect From Monster Beverage Corporation’s Q2 Earnings?

2022-08-03 06:57:00