Zoom Boosts Outlook With Move Beyond Video Calls
- Quarterly revenue from the largest customers gains 18%
- Company moving away from reliance on consumers, small business
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Zoom Video Communications Inc. raised its annual forecasts, a sign of progress on its effort to sell more products to large enterprise customers. The shares gained about 4% in extended trading.
Revenue for the year ending in January 2024 will be as much as $4.5 billion, the company said Monday in a statement. In May, Zoom projected annual sales of about $4.48 billion. Annual earnings, excluding some items, will be $4.63 to $4.67 a share, compared with a previous forecast of $4.25 to $4.31.