font dimension
Shares of ZoomInfo had been down 18% in late buying and selling Monday.
Scientific
Shares of ZoomInfo fell sharply in late buying and selling Monday, after the database data supplier to its company gross sales and advertising groups lower its full-year monetary steerage. The corporate’s press launch supplied no rationalization for the extra modest expectations.
In late buying and selling, ZoomInfo was down 18%, at $21.
For the second quarter, ZoomInfo (inventory ticker: ZI) reported income of $308.6 million, up 16% from a yr in the past, however just under the Wall Avenue consensus of $310.9 million. Adjusted earnings had been 26 cents a share, above the consensus of 23 cents. Beneath typically accepted accounting ideas, the corporate earned 9 cents a share.
“We delivered one other quarter of income development, elevated profitability, and free money circulation technology,” CEO Henry Schock mentioned in an announcement.
For the September quarter, ZoomInfo expects income of $309 million to $312 million, with adjusted earnings of 24 to 25 cents per share; The analyst consensus had known as for income of $325.8 million and 25 cents.
ZoomInfo additionally lowered its steerage for the total yr. The vary for brand spanking new income steerage is $1.225 billion to $1.235 billion, down from a earlier forecast of $1.275 billion to $1.285 billion.
ZoomInfo mentioned it now sees GAAP-free money circulation of $445 million to $455 million, down from a earlier forecast of $507 million to $517 million. The corporate’s new non-GAAP EPS forecast is 99 cents to $1 per share, narrowing the vary from the earlier forecast of 99 cents to $1.01 per share.
The corporate additionally introduced a $500 million growth of its share repurchase program.
Write to Eric J. Savitz at eric.savitz@barrons.com
