Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Zoom Gains On Raising Outlook After All-Round Show, WFH A Way Of Life 

Stock MarketsJun 02, 2021 19:00
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Dhirendra Tripathi

Investing -- Shares of Zoom Video (NASDAQ:ZM) rose 2% in Wednesday’s premarket trading as work-from-home lifestyle fueled its April quarter performance and helped it raise guidance for the ongoing financial year.

Zoom was ‘almost’ born out of the pandemic as both companies and individuals turned to its application to connect and make one-to-one as well as group video calls to communicate and check on each other while workplaces and commuting were shut.

Thanks to its easy-to-use features and clarity, it left behind rivals like Microsoft Teams (NASDAQ:MSFT) and Google Meet (NASDAQ:GOOGL) to notch up big subscriber numbers during the pandemic.

Many believe Zoom’s glory may be short-lived as more people return to work and offices use other applications at work but the company’s management exuded confidence that a hybrid working model that incorporates both home and office work is here to stay.

The company now expects total revenue for the full fiscal year 2022 to come between $3.97 billion and $3.99 billion. This was earlier seen between $3.76 billion and $3.78 billion.

Zoom’s first quarter total revenue rose 191% year-on-year to $956.2 million.

The company had approximately 497,000 customers with more than 10 employees at the end of April. This was up 87% from the same period a year ago.

GAAP net income rose more than 8 times to $227.4 million, up from $27 million.

 

Zoom Gains On Raising Outlook After All-Round Show, WFH A Way Of Life 
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email