![]() ![]() Bernstein analyst Zane Chrane wrote in a note. 31.īut the company’s revenue guidance appears conservative, as it implies the company would add less revenue than it did a year ago, Sanford C. Zoom forecasted first-quarter revenue of $199 million to $201 million, a 65% year-over-year increase if the top estimate is achieved, compared with the 78% increase in the quarter ended Jan. “Zoom has a tremendous opportunity in front of it that we believe it can capture across the conversion of users to paid,” he wrote in a research note to investors. analyst James Fish said in an interview that Zoom is becoming the “standard de facto” videoconferencing solution for various companies in different markets. However, she noted that the uptick in usage was largely attributed to free users and said it’s “very early” to tell whether these users can be turned into long-term paid users. “Due to the coronavirus, we have already seen significant usage of our platform and accordingly, we will expand our capacity to meet the increased demands of both paid and free users,” said Chief Financial Officer Kelly Steckelberg during a conference call after the earnings report. 31, compared with $1.2 million, or 1 cent, in the same period last year. The San Jose-based company booked a better-than-expected $15.3 million profit, or 5 cents per diluted share, in the quarter that ended Jan. At the same time, the S&P 500 has fallen more than 6%. ![]() Shares of Zoom Video Communications Inc., the company known for its videoconferencing platform, soared 7% Thursday as concerns over the COVID-19 outbreak intensified and the company reported quarterly earnings that beat expectations.īacked by stronger demand for videoconferencing products as more companies and their employees work remotely, Zoom’s stock price has risen 84% this year so far.
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