(Reuters) -Zoom Video Communications raised its full-year revenue forecast on Monday, helped by robust demand for its product portfolio as companies continue to adopt hybrid work models.
The upbeat outlook suggests that Zoom’s efforts to incorporate artificial intelligence (AI) into its offerings and broaden its range of services have been successful, capitalizing on the rise of hybrid work.The company introduced Zoom Workplace, an AI powered, open collaboration platform in March, along with new AI companion expansions, first unveiled in September last year, for paid users.Zoom, along with platforms like Microsoft’s Teams and Cisco’s Webex are pandemic darlings, which most businesses and individuals turned to, for connecting with employees and friends.
The company now expects revenue of about $4.61 billion to $4.62 billion for 2025, compared to its earlier forecast of about $4.6 billion.
For the second quarter, Zoom sees revenue between $1.145 billion and $1.150 billion, slightly below analysts’ average estimate of $1.15 billion, according to LSEG data.
(Reporting by Juby Babu in Mexico City; Editing by Shailesh Kuber)