Zoom raises its full-year revenue and profit forecasts despite the slowdown in growth
On Monday, Zoom Video Communications Inc raised its full-year revenue and earnings forecasts, even though growth is slowing as a result of the pandemic boom and business spending is slowing in a tough economy. The company’s shares were 0.7% higher in after-market hours, after rising nearly 5% earlier. Zoom became a household name during the shutdown, but growth has since cooled as offices reopen and competition heats up from deep-seated rivals such as Microsoft Corp’s Teams, Cisco’s Webex and Salesforce’s Slack. San Jose, Calif.-based Zoom raised its annual revenue forecast…
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