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Wall St. confident about Zoom; Q-2 revenues at $990 million
05 Jun 2021, 03:17 GMT+10
SAN JOSE, California: Video conferencing service Zoom, on June 1, projected revenues in the current quarter surpassing estimated figures, with continued remote working projected to propel demand for its conferencing products.
Zoom gained popularity and became increasingly favored by investing parties in 2020, as businesses, as well as educational institutions, opted for its features to enable virtual classrooms, official meetings and interactions.
However, with COVID-19 inoculations being rolled out at a swift pace, coupled with normalcy returning to the work force and schools, skepticism prevails among analysts regarding how sustainable is the growth of Zoom, particularly at a time when competitors Google, Cisco and Microsoft are introducing their own video conferencing products.
Zoom is now forecasting total full-year revenue for fiscal 2022 between $3.975 billion and $3.990 billion, or 50% year-over-year growth, with adjusted earnings per share between $4.56 and $4.61 based on approximately 311 million shares outstanding.
Zoom forecasts upbeat revenue, expects boost from hybrid work - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.