May 21 (Reuters) – Zoom Communications raised its annual revenue and profit forecasts on Thursday, \u200cbetting on strong demand for its \u200cAI features as the video conferencing platform looks to shore \u200bup enterprise and consumer spending.<\/p>\n
Shares of the company were up more than 7% in extended trading.<\/p>\n
Zoom has been extensively integrating AI tools, including \u200cagents and companions, \u2060into its video meeting and communication services, to boost its appeal and \u2060attract more enterprise customers.<\/p>\n
Here are more details:<\/p>\n
\u2022 The company now expects fiscal 2027 revenue of \u200bbetween $5.08 billion \u200band $5.09 billion, compared with \u200bits earlier forecast \u200cof $5.07 billion to $5.08 billion.<\/p>\n
\u2022 It raised its annual adjusted earnings per share (EPS) outlook to between $5.96 and $6, compared with its prior forecast of $5.77 to $5.81.<\/p>\n
\u2022 The platform also authorized an additional $1 billion share \u200cbuyback.<\/p>\n
\u2022 Zoom forecast second-quarter \u200brevenue between $1.26 billion and $1.27 billion, \u200bcompared with estimates \u200bof $1.27 billion, according to data compiled \u200cby LSEG.<\/p>\n
\u2022 It expects \u200bquarterly adjusted \u200bEPS between $1.45 and $1.47, compared with analysts’ average estimate of $1.48.<\/p>\n
\u2022 Revenue for the first quarter \u200bended April 30 \u200ccame in at $1.24 billion, beating estimates \u200bof $1.22 billion.<\/p>\n
(Reporting by Zaheer Kachwala in Bengaluru; \u200bEditing by Diti Pujara)<\/p>\n","protected":false},"excerpt":{"rendered":"May 21 (Reuters) – Zoom Communications raised its annual revenue and profit forecasts on Thursday, \u200cbetting on strong…\n","protected":false},"author":2,"featured_media":439208,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,84552,363,364,224465,111,139,69,224464,145,60624,224463],"class_list":["post-439207","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-annual-revenue","tag-artificial-intelligence","tag-artificialintelligence","tag-enterprise-customers","tag-new-zealand","tag-newzealand","tag-nz","tag-profit-forecasts","tag-technology","tag-video-conferencing","tag-zoom-communications"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/439207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=439207"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/439207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/439208"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=439207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=439207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=439207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}