NEW YORK | Zoom Video Communication Inc. nearly doubled its expectations for annual sales on Tuesday, riding on a surge in usage of its video conferencing platform due to coronavirus – driven lockdown measures globally.
However, the latest quarterly reported shows the issue had little impact on its numbers. The company said it now had about 265,400 customers with more than 10 employees, a near four-fold increase from a year earlier.
Zoom also reported first-quarter revenue of $328.2 million, beating analysts’ estimates of $200.7 milion, according to IBES data from Refinitiv.
The company raised its full-year revenue forecast to a range of $1,78 billion to $ 1.80 billion from $935.2 million.
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