Zoom raises annual revenue forecast (updated)

Zoom Communications

25/11/2024 21:16

(Adds background in paragraph 3, details in paragraph 4 & 5)
       Nov 25 (Reuters) - Zoom Video Communications  ZM.O  raised its forecast for fiscal 2025
revenue on Monday, anticipating robust demand for its online video conferencing software as it
expands its product portfolio, and clients embrace hybrid working models. 
    The company expects revenue in the range of $4.65 billion to $4.66 billion, from its earlier
forecast of between $4.63 billion and $4.64 billion. 
    Zoom's online meeting services continue to see strong spending from its large enterprise
client base as hybrid working models become the norm in many firms and its push to integrate
artificial intelligence makes it a staple for many companies' operations.
    The company reported revenue of $1.18 billion for the third quarter, beating estimates of
$1.16 billion, as per data compiled by LSEG. 
    Zoom also said it would expand its share repurchase plan by $1.2 billion. 


 (Reporting by Zaheer Kachwala in Bengaluru; Editing by Alan Barona)
 ((mailto:Zaheer.Kachwala@thomsonreuters.com))