Zoom Video Communications Inc (ZM.O) on Tuesday forecast current-quarter revenue above estimates, as increased adoption of hybrid work models by companies is expected to drive steady demand for its video conferencing tools.
Small toy figures are seen in front of the Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustrationon Tuesday forecast current-quarter revenue above estimates, as increased adoption of hybrid work models by companies is expected to drive steady demand for its video conferencing tools.
But with rapid vaccination efforts and life slowly returning to normal, analysts are skeptical of the sustainability of Zoom's growth, especially with rivals Microsoft, Cisco and Google snapping at its heels. However, the San Jose, California-based company assuaged some of those concerns by forecasting current-quarter revenue in the range of $985 million to $990 million, above Wall Street's estimate of $931.8 million, according to IBES Refinitiv data.
The surging number of free users on Zoom's platform has led to higher costs for the company, which operates some of its own data centers.
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