Zoom update

With rapid vaccination efforts and life slowly returning to normal, analysts are skeptical of the growth of the zoom, especially as rivals Microsoft, Cisco and Google are snatching help.

Zoom-forecasts-upbeat-revenue


  Zoom Video Communications Inc. forecast higher-than-expected quarterly earnings on Tuesday, as companies are expected to see steady demand for its video conferencing tools due to the increase in hybrid work models.


  Last year, Zoom became a household name and a favorite of investors, as businesses and schools turned their services to virtual classes, office meetings and socialization.


  But with rapid vaccination efforts and a gradual return to normal life, analysts are skeptical of the zoom's growth, especially with rivals Microsoft, Cisco and Google snatching help.

  "The extent to which we can compete with the likes of Cisco and Microsoft remains to be seen in the next few circles," said Joe McCork, a senior analyst at Third Bridge.


  However, according to IBES Refinitive Data, San Jose, a California-based company, expressed these concerns while forecasting quarterly revenues ranging from 1 981 million to 90 990 million.


  Shares of the company rose 2% after falling more than 5% in after-market trading at higher prices.  In the first quarter ended April 30, costs rose 155 percent to 26 265 million.

  The growing number of free users on the Zoom platform has led to higher costs for the company, which runs some of its own data centers.


  Zoom, which came under security scrutiny, is focusing on its two-year cloud calling product Zoom Phone and conference hosting product Zoom Rooms, with Facebook and Google promoting their video products as major players.  Has given


  Zoom posted an adjusted profit of 32 1.32 per share on earnings, which nearly tripled to 95 956.2 million in the quarter, compared to a profit of 99 cents and revenue of 90 906 million.