The company raised its full-year revenue forecast to a range of $1.78 billion to $1.80 billion from $905 million to $915 million. Zoom company competes with Cisco Systems Inc's Webex, Microsoft Corp Teams and Google's Meet platform for paying customers, particularly enterprises, while offering a free version to consumers. Zoom reported fiscal first-quarter revenue of $328.2 million, beating analysts' estimates of $202.7 million, according to IBES data from Refinitiv. While Zoom's revenue increased sharply, its costs rose even more steeply. Analysts had expected gross margins to hover between 79% and 81% over the coming year, according to Refinitiv data.

Source: bd News24 June 03, 2020 00:00 UTC