Shares of ZoomInfo Technologies experienced a significant boost after the company announced that its fourth-quarter revenue and adjusted earnings surpassed expectations. The stock saw an impressive 24% increase in after-hours trading, rising to $19.94, following a 4.1% gain at Monday's close. It should be noted that shares of ZoomInfo have experienced a 13% decrease since the beginning of the year.
Based in Vancouver, Washington, ZoomInfo Technologies specializes in providing contact and business information for its clients. For the fourth quarter, the company reported a 5% rise in revenue to $316.4 million, surpassing analysts' predictions of $310.6 million.
In terms of earnings, ZoomInfo recorded a loss of $5.5 million, or 1 cent per share, for the quarter ending December 31. This is in contrast to a profit of $23.2 million, or 6 cents per share, during the same period the previous year. Analysts had anticipated a per-share profit of 10 cents. However, after excluding certain one-time items, the company actually achieved a profit of 26 cents per share, surpassing both its own guidance and analysts' projected earnings of 25 cents per share.
Looking ahead, ZoomInfo expects its revenue to reach $1.26 billion to $1.28 billion by 2024. Analysts polled by FactSet have predicted $1.275 billion. The company has also forecasted an adjusted per-share profit ranging from 99 cents to $1.01, which aligns with analysts' estimates.
In summary, ZoomInfo Technologies has shown remarkable performance in the fourth quarter of the previous year, surpassing revenue and earnings expectations. With strong projections for future revenue and profit, the company remains on a positive trajectory.
