Zoom beats expectations as momentum continues despite office return
Zoom Video Communications has beat estimates for third-quarter revenue as its shares jumped in extended trading.
Despite the firm warning of slowing revenue growth after the second quarter as home-working weakens, the firm was able to hold its momentum.
Revenue rose 35 per cent to $1.05bn in the third quarter ended 31 October, compared with analysts’ estimates of $1.02bn, according to Refinitiv data.
Net income attributable to common stockholders in the quarter was $340.3m, or $1.11 per share, up from $198.4m, or 66 cents per share, the previous year.
The tech firm has enjoyed the fruits of new offerings as it seeks to retain customers as they make their way back to offices and schools.
New offers include an events platform to facilitate large-scale business conferences, as well as its developments Zoom Phone and Zoom Rooms.
Zoom shares lifted 6.4 per cent to $257.87 in extended trading.