ZoomInfo Technologies (NASDAQ:ZI) experienced a sharp decline of nearly 20% pre-market today due to its weaker-than-expected revenue guidance for Q2. The company reported adjusted EPS of $0.26 with revenue amounting to $308.6 million, marking a 16% increase. However, analysts had anticipated earnings of $0.23 with revenue of $311.2 million.
Looking ahead to Q3, ZoomInfo predicts adjusted EPS to fall between $0.24 and $0.25, and revenue to range from $309 million to $312 million. These projections fell short of the Street estimate of $325.7 million. For the full year, ZoomInfo anticipates adjusted EPS to be in the range of $0.99 to $1, and revenue to be between $1.225 billion and $1.235 billion. Furthermore, the company’s board approved an additional share repurchase of $500 million.