11:17 AM EDT, 08/22/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Zoom Video Communications ( ZM ) shares were rising past 12% in recent Thursday trading after the company's fiscal Q2 non-GAAP earnings and revenue increased year on year and beat analysts' estimates.

The company reported fiscal Q2 non-GAAP net income late Wednesday of $1.39 per diluted share, up from $1.34 a year earlier.

Analysts polled by Capital IQ expected $1.22.

Revenue in the quarter ended July 31 rose to $1.16 billion from $1.14 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.15 billion.

The company expects fiscal Q3 non-GAAP EPS of $1.29 to $1.31 on revenue of $1.16 billion to $1.165 billion. Analysts project EPS of $1.24 on revenue of $1.16 billion.

The video-conferencing company boosted fiscal 2025 guidance to non-GAAP EPS of $5.29 to $5.32 on revenue of $4.63 billion to $4.64 from non-GAAP EPS of $4.99 to $5.02 on revenue of $4.61 billion to $4.62 billion. Analysts project EPS of $5.06 on revenue of $4.62 billion.

Chief Financial Officer Kelly Steckelberg plans to resign, the company said Wednesday in a regulatory filing. She will stay through the release of earnings for the fiscal quarter ending Oct. 31 and work part time starting Oct. 10. The company said it's searching for a successor.

Price: 67.53, Change: +7.30, Percent Change: +12.12