Reuters Zoom Video Communications Inc on Monday raised its fullyear adjusted profit forecast, signaling robust demand for its videoconferencing tools in a hybrid work environment, sending the companys shares up 17 in extended trading.
Zoom said fullyear adjusted profit per share is expected to be between 3.70 and 3.77, compared with earlier expectations of between 3.45 and 3.51.
The company said revenue rose 12 to 1.07 billion in the quarter ended April 30, in line with Wall Street estimates, according to Refinitiv data.
Net income attributable to common stockholders fell to 113.6 million, or 37 cents per share, in the first quarter, from 227.4 million, or 74 cents per share, a year earlier.