Why ZoomInfo Stock Zoomed Lower
Shares of ZoomInfo (NASDAQ: ZI) have zoomed lower today, down by 10% as of 12:40 p.m. EDT, after the company reported second-quarter earnings. This is ZoomInfo's first earnings release as a public company.
Revenue in the second quarter jumped 62% to $110.9 million, which was ahead of the $105.6 million in sales that analysts were expecting. That resulted in adjusted net income of $27 million, or $0.07 per share. Wall Street was looking for just $0.05 per share in adjusted profits. ZoomInfo, which operates a business-to-business (B2B) database, completed its IPO in early June.
Image source: Getty Images.
Source Fool.com
