Sales in the latest quarter increased by 2.6 percent year-on-year to around $1.15 billion (€1.06 billion), as Zoom announced after the stock market closed on Monday. Analysts on average expected more than 1.13 billion. The bottom line was that there was a profit of $299 million after being $104 million in the red the previous year.
During the Corona pandemic, when working and learning from home, Zoom grew explosively. However, many companies have now returned, at least partially, to office operations. In this situation, Zoom is trying to meet the broader communication needs of its customers, including voice telephony.
The business figures and outlook gave investors new confidence: the shares temporarily rose by around eleven percent in after-hours trading. Zoom also announced a $1.5 billion share buyback.
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