ZoomInfo Technologies Inc. (ZI) saw its stock surge 10.70% in after-hours trading on Monday, following the release of its first-quarter financial results that exceeded analyst expectations. The company, which specializes in go-to-market intelligence solutions, reported strong performance and provided an optimistic outlook for the full year.
For the first quarter, ZoomInfo reported adjusted earnings per share of $0.23, surpassing the consensus estimate of $0.22. Revenue came in at $305.7 million, beating analysts' expectations of $295.3 million. The company's adjusted operating income reached $100.9 million, also exceeding the estimated $97.8 million.
Adding to the positive sentiment, ZoomInfo provided an upbeat full-year outlook. The company forecasts GAAP revenue between $1.195 billion and $1.205 billion for the fiscal year, demonstrating confidence in its continued growth. Earlier in the day, ZoomInfo had also announced a ticker change to "GTM" and the launch of GTM Studio, a new offering under its GTM Intelligence Platform, which may have contributed to investor enthusiasm.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.