Zoom raises revenue and profit forecast
Zoom has boosted its annual revenue and profit forecasts amid robust demand from companies considering their post-pandemic operations.
Companies still believed the video-conferencing platform was “mission critical”, said Eric Yuan, its founder and chief executive, despite more of them ordering staff back to the office.
Yuan welcomed a “solid start to the year”. Zoom’s base of key enterprise customers — each contributing more than $100,000 in recurring annual revenue — rose 23 per cent to 3,580.
Shares in Zoom Video Communications increased 2.1 per cent, or $1.47, to $72.88 during out-of-hours trading in New York last night.
Revenue increased 3 per cent to $1.11 billion in the three months to April 30. Net profits dropped sharply, from $113.6 million to $15.4 million.
The group expects