Zoom Projects Better-Than-Expected Sales on New Products
- Software company gains ground with larger enterprise clients
- Consumer unit reported lowest churn rate ever, CEO says
Zoom is focused on offering more tools for business customers, including phone systems, contact centers and an artificial intelligence assistant.
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Zoom Video Communications Inc. gave a sales forecast for the current quarter that beat analysts’ estimates, suggesting its expanded suite of products is making gains with business customers.
Revenue will be $1.16 billion to $1.17 billion in the period ending in October, the company said Wednesday in a statement. Profit, excluding some items, will be about $1.30 per share. Analysts, on average, projected adjusted earnings of $1.24 per share on sales of $1.16 billion, according to data compiled by Bloomberg. The company also raised its fiscal year sales and profit forecasts.