(Reuters) -Zoom Video Communications raised its forecast for fiscal 2025 income on Monday, anticipating strong demand for its on-line video conferencing software program because it expands its product portfolio, and purchasers embrace hybrid working fashions.
The corporate expects income within the vary of $4.65 billion to $4.66 billion, from its earlier forecast of between $4.63 billion and $4.64 billion.
Zoom (NASDAQ:)’s on-line assembly companies proceed to see sturdy spending from its massive enterprise shopper base as hybrid working fashions develop into the norm in lots of corporations and its push to combine synthetic intelligence makes it a staple for a lot of firms’ operations.
The corporate reported income of $1.18 billion for the third quarter, beating estimates of $1.16 billion, as per information compiled by LSEG.
Zoom additionally mentioned it might increase its share repurchase plan by $1.2 billion.
