Zoom Gains After Profit Outlook Beats Analysts’ Estimates
- Company’s customer churn slows compared with last year
- Zoom seeking ‘careful balance’ between growth, profits
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Zoom Video Communications Inc. soared in pre-market trading, setting the stage for the biggest gain in three weeks, after the company forecast quarterly profits that far exceeded analysts’ expectations.
The software maker said late Monday that it expects earnings to fall between 96 cents and 98 cents in the fiscal first quarter, beating an estimate of 87 cents and signaling that the company’s cost-cutting efforts are helping offset a slowdown in sales.