Earnings To Watch: ZoomInfo (ZI) Reports Q2 Results Tomorrow

Petr Huřťák /
2023/07/30 7:22 am EDT

Sales intelligence platform ZoomInfo will be announcing earnings results tomorrow after market close. Here's what you need to know.

Last quarter ZoomInfo reported revenues of $300.7 million, up 24.4% year on year, in line with analyst expectations. It was a weaker quarter for the company, with decelerating growth in large customers. The company lost 21 enterprise customers paying more than $100,000 annually and ended up with a total of 1,905.

Is ZoomInfo buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting ZoomInfo's revenue to grow 16.5% year on year to $311.1 million, slowing down from the 53.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.

ZoomInfo Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 4.65%.

Looking at ZoomInfo's peers in the sales and marketing software segment, only VeriSign has so far reported results, delivering top-line growth of 5.71% year on year, missing analyst estimates by 0.29%. The stock was down 2.09% on the results. Read our full analysis of VeriSign's earnings results here.

There has been positive sentiment among investors in the software segment, with the stocks up on average 6.45% over the last month. ZoomInfo is up 0.08% during the same time, and is heading into the earnings with analysts' average price target of $31.37, compared to share price of $26.20.

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The author has no position in any of the stocks mentioned.