ZoomInfo Technologies Inc Announces Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-06
ZoomInfo Technologies Inc. Announces Q2 2024 Financial Results
Overview
ZoomInfo Technologies Inc. reported its financial results for the second quarter, which ended on June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | Q1 2024 | YoY Change | QoQ Change | Consensus Estimates (Q2 2024) |
|---|---|---|---|---|---|---|
| Total Revenue | $309.50M | $282.45M | $300.34M | +9.59% | +3.05% | $307.73M |
| Earnings Per Share (EPS) | $0.24 | $0.20 | $0.22 | +20.00% | +9.09% | $0.23 |
Interpretation : ZoomInfo Technologies exceeded consensus estimates on both revenue and EPS. The 9.59% year-over-year and 3.05% quarter-over-quarter increases in revenue, as well as the 20% year-over-year and 9.09% quarter-over-quarter rise in EPS, indicate a strong financial performance.
Revenue Performance Across Segments
| Segment | Q2 2024 Revenue | Previous Guidance | YoY Change | QoQ Change |
|---|---|---|---|---|
| Data Licensing | $150.25M | $148M | +12.50% | +1.52% |
| Software & Services | $159.25M | $158M | +6.80% | +4.60% |
Interpretation : Both major segments surpassed previous guidance, contributing to overall revenue growth. The Data Licensing segment exhibited a robust 12.50% year-over-year increase, while the Software & Services segment showed healthy growth with a 6.80% year-over-year rise.
Stock Price Movement
Following the earnings release, ZoomInfo Technologies experienced a stock price decline of -5.86%.
Conclusion
ZoomInfo Technologies showed strong performance in Q2 2024, with both revenue and EPS exceeding analyst expectations and marking significant year-over-year and quarter-over-quarter growth. Despite this, the stock price fell by 5.86% post-announcement. The company's major revenue segments performed well, surpassing guidance. However, no forward guidance or additional financial programs were provided.
