Why Are ZoomInfo Shares Trading Higher Today?

ZoomInfo Technologies Inc ZI shares traded higher during Monday's after-hours session following better-than-expected second-quarter results and raised guidance.

The company reported quarterly earnings of $0.14 per share on sales of $174 million. Analysts had been expecting earnings per share of $0.12 on sales of $162.34 million. Sales were up nearly 57 percent on a year-over-year basis.

ZoomInfo raised its FY21 guidance for both the top and bottom lines. The company now expects sales between $703 million and $707 million. EPS are expected to be between $0.50 and $0.51.

The company boosted its FY21 guidance from between $670 million and $676 million for sales and from $0.49 to $0.50 for earnings per share.

ZoomInfo Founder and CEO, Henry Schuck, said, "ZoomInfo delivered another record quarter, including the highest levels ever for both retention activity and customer engagement, and accelerating revenue growth, as customers in all industries continue to choose ZoomInfo to transform their go-to-market motion. ZoomInfo is the only company delivering a modern go-to-market platform that brings together best-in-class intelligence with comprehensive data management, workflow, and engagement software."

Shares of ZoomInfo last traded at $59.25, up about 8 percent from Monday's closing price.