Why ZoomInfo Stock Popped Today
Shares of ZoomInfo Technologies (NASDAQ: ZI), a software-as-a-service company, were spiking on Tuesday after the company reported better-than-expected results for the second quarter.
Sales and earnings both outpaced Wall Street's consensus average estimates, spurring investors to flock to the tech stock today and driving its shares up 10.4% as of 10:49 a.m. ET.
ZoomInfo reported revenue of $267.1 million in the quarter, a massive increase of 54% from the year-ago quarter, which easily beat analysts' consensus estimate of $252.4 million. The company's adjusted earnings per share of $0.21, a 50% year-over-year increase, also surpassed Wall Street's average estimate of $0.17 per share.
Source Fool.com
