Zoom bets on hybrid work to raise full-year profit forecast
2022.05.23 23:36
FILE PHOTO: Small toy figures are seen in front of the Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Zoom Video Communications Inc on Monday raised its full-year adjusted profit forecast, signaling robust demand for its video-conferencing tools in a hybrid work environment, sending the company’s shares up 17% in extended trading.
Zoom said full-year adjusted profit per share is expected to be between $3.70 and $3.77, compared with earlier expectations of between $3.45 and $3.51.
The company said revenue rose 12% to $1.07 billion in the quarter ended April 30, in line with Wall Street estimates, according to Refinitiv data.
Net income attributable to common stockholders fell to $113.6 million, or 37 cents per share, in the first quarter, from $227.4 million, or 74 cents per share, a year earlier.
