Zoom Raises Forecast on Videoconferencing Demand


Story by NewsMax

Zoom Video Communications Inc. on Monday raised its annual profit forecast, betting on resilient demand for its video-conferencing service as more businesses transform to a hybrid work model.

Shares of the San Jose, California-based company rose nearly 3% in trading after the bell.

After recording blistering growth during the pandemic, Zoom has continued to attract high-paying enterprise customers as migration to cloud and digitization continue to be a priority, even as world economies are bracing for an economic downturn.

In a bid to keep its customers, the company is also consistently expanding its product portfolio.

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