ZoomInfo reports Q1 revenue, EPS above expectations, raises year outlook
Go-to-market cloud software mavens ZoomInfo Technologies this afternoon reported Q1 revenue and profit that topped Wall Street's expectations, and an outlook that was also higher, and raised its forecast for the full year above consensus.
The report sent ZoomInfo shares up slightly in late trading.
CEO and founder Henry Schuck called the quarter "a strong start to the year that built on our momentum from 2020."
Added Schuck, "We are executing well across all areas of the business, and we remain well-positioned to capitalize on the growing market opportunity in the go-to-market intelligence space, as B2B companies of all sizes modernize their sales and marketing motions."
Revenue in the three months ended in March rose 50%, year over year to $153.3 million, yielding a net profit of 13 cents a share, excluding some costs.
Analysts had been modeling $145.5 million and 10 cents per share.
ZoomInfo produced $97.5 million in free cash flow in the quarter, it said.
For the current quarter, the company sees revenue of $161 million to $163 million, and EPS in a range of 11 cents to 12 cents. That compares to consensus for $154.4 million and an 11-cent profit per share.
For the full year, the company raised its outlook to a forecast for revenue in a range of $670 million to $676 million, and EPS of 49 to 60 cents. That is up from a prior forecast of $645 million to $655 million, and 47 cents to 49 cents. It is also above consensus of $654 million and a 49-cent profit per share.