ZI - Why ZoomInfo Technologies Stock Soared Today

2024-02-13 20:03:45 ET

Shares of ZoomInfo (NASDAQ: ZI) soared 14.4% on Tuesday after the business data platform provider announced strong quarterly results.

Zoominfo's fourth-quarter 2023 revenue grew 5% year over year to $316.4 million, translating to non-GAAP (adjusted) net income of $0.26 per share. Analysts, on average, were only modeling earnings of $0.25 per share on slightly lower revenue.

ZoomInfo Founder and CEO Henry Schuck noted that the company remains comfortably cash-flow positive, delivering unlevered free cash flow of $126 million during the quarter. Schuck also highlighted ZoomInfo's recent introduction of ZoomInfo Copilot, its generative AI-powered solution that provides recommendations to users for who to contact, when to engage them, and even what to say across different channels.

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