Stock Track | ZoomInfo Soars 10.70% After Hours on Strong Q1 Results and Upbeat Outlook

Stock Track05-13

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.

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