Zoom Jumps Most in a Year on Strong Profit Outlook, Buyback
- Company announces $1.5 billion share repurchase plan
- Revenue from business customers jumped 4.9% to $667 million
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Zoom Video Communications Inc. gained the most intraday in a year after its quarterly profit and outlook suggested corporate customers are sticking with the software company and its new products may begin to revitalize sales.
The company also announced a $1.5 billion share buyback, which followed a $1 billion authorization started in 2022 that expired this month.