ZoomInfo Technologies reported June-quarter profit and revenue Monday that topped estimates amid strong international growth. ZoomInfo stock popped on the news.
The company's earnings came in at 21 cents a share, up 50% from a year earlier, topping estimates from Wall Street analysts for an 18-cent profit. The company reported revenue of $267.1 million, up 54% from a year earlier, ahead of analyst views for a total of $255 million.
In the year-earlier quarter, ZoomInfo reported profit of 14 cents on revenue of $174 million.
ZoomInfo stock surged 16.5% to 43.94 in extended trading on the stock market today.
ZoomInfo Stock: Guidance Tops Views
For the September quarter, ZoomInfo forecast revenue of $278 million. That's at the midpoint of the company's own internal projections. ZoomInfo stock analysts had predicted sales of $271 million.
ZoomInfo forecast profit in a range of 19 cents to 20 cents, in line with analyst estimates.
ZoomInfo's core asset is a huge database of contact and account information that services some 120 million business professionals. Also, sales and marketing teams use ZoomInfo's database to identify, engage and track their best potential customers.
With acquisitions, ZoomInfo has morphed into a broad business intelligence company.
Heading into the second quarter earnings report, ZoomInfo stock owned a Relative Strength Rating of 18 out of a best possible 99. Shares had been steadily dropping after reaching an all-time high of 79.17 on Nov. 19.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
