UPDATE 3-Zoom raises annual forecast to strong demand amid AI push
May 20 – Zoom Video Communications on Monday raised its annual profit and revenue forecasts, supported by strong demand for its product portfolio as companies continue to adopt fit.
The optimistic outlook suggests that Zoom’s efforts to incorporate artificial intelligence and expand the scope of its services have been successful.
It introduced Zoom Workplace, an open, AI-powered collaboration platform in March, along with new AI companion expansions, first launched last September, for users pay fee.
Zoom, along with platforms like Microsoft’s Teams and Cisco’s Webex, are pandemic favorites that most businesses and individuals have turned to to connect with employees and friends.
“In Q1, we continued to integrate AI across our platforms, including Zoom Contact Center and Zoom Workplace, our AI-powered collaboration platform,” said CEO Eric Yuan. we”.
The company now expects 2025 revenue to be about $4.61 billion to $4.62 billion, up from its previous forecast of about $4.6 billion. Analysts expected revenue of $4.61 billion, according to LSEG data.
On an adjusted basis, they expect full-year earnings of $4.99 to $5.02 per share, compared with a previous forecast of $4.85 to $4.88.
In the second quarter, Zoom had revenue of $1.145 billion to $1.150 billion, slightly below analysts’ average estimate of $1.15 billion.
The company posted revenue of $1.14 billion, up 3.2% in the first quarter ended April 30 and above analyst 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 the text.
