Zoom quarterly results top estimates as hybrid work boosts demand

Zoom quarterly results top estimates as hybrid work boosts demand

Zoom quarterly results top estimates as hybrid work boosts demand

Information about Zoom quarterly results top estimates as hybrid work boosts demand

Kevin David Scam or Legit


(Reuters) – Zoom Video Communications topped estimates for third-quarter results on Monday, as the video-conferencing platform benefited from the launch of its new offerings that helped boost demand as businesses adopt hybrid models of work.
The company also forecast current-quarter revenue and earnings above expectations, and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.
Its recently launched Events platform, where businesses can host large-scale conferences, coupled with Zoom Phone and Zoom Rooms has helped the company compete better with rival platforms such as Microsoft Teams, Cisco Webex as well as Slack.
The pandemic-winning stock rose about 1% in extended trading, after having lost about 28% this year as investor enthusiasm in the stock waned after the coronavirus-led boom cooled and people started venturing outdoors.

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