Zoom lifts annual forecasts on robust demand amid AI push | HT Tech

Zoom lifts annual forecasts on robust demand amid AI push

ZOOM-VIDEO-COMMN-RESULTS:Zoom lifts annual forecasts on robust demand amid AI push

By:REUTERS
| Updated on: May 21 2024, 03:52 IST
Zoom lifts annual forecasts on robust demand amid AI push
Zoom lifts annual forecasts on robust demand amid AI push

-Zoom Video Communications on Monday raised its annual forecast for profit and revenue, helped by robust demand for its product portfolio as companies continue to adopt hybrid work.

The upbeat outlook indicated that Zoom's efforts to incorporate artificial intelligence and broaden its range of services have been successful.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
Vivo X100 Pro 5G
  • Asteroid Black
  • 16 GB RAM
  • 512 GB Storage
13% OFF
Xiaomi 14
  • Matte Black
  • 12 GB RAM
  • 512 GB Storage

It introduced Zoom Workplace, an AI powered, open collaboration platform in March, along with new AI companion expansions, first unveiled in September last year, for paid users.

Also read
Looking for a smartphone? To check mobile finder click here.

Zoom, along with platforms like Microsoft's Teams and Cisco's Webex are pandemic darlings, which most businesses and individuals turned to, for connecting with employees and friends.

"In Q1, we continued to integrate AI across our platform including Zoom Contact Center and Zoom Workplace, our AI-powered collaboration platform," CEO Eric Yuan said.

The company now expects 2025 revenue of about $4.61 billion to $4.62 billion, up from its earlier forecast of about $4.6 billion. Analysts expect revenue of $4.61 billion, according to LSEG data.

On an adjusted basis, it expects full-year earnings between $4.99 and $5.02 per share, compared with its previous forecast of between $4.85 and $4.88.

For the second quarter, Zoom sees revenue between $1.145 billion and $1.150 billion, slightly below analysts' average estimate of $1.15 billion.

The company posted revenue of $1.14 billion, up 3.2%, for the first quarter ended April 30 and above analysts' expectations of $1.13 billion.

Zoom reported quarterly adjusted earnings of $1.35 per share, also above estimates of $1.20.

This article was generated from an automated news agency feed without modifications to text.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 21 May, 03:52 IST
NEXT ARTICLE BEGINS

Best Deals For You