Zoom Communications forecasts downbeat annual revenue

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AdvertisementAdvertisementBusinessFILE PHOTO: Small toy figures are seen in front of Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo25 Feb 2025 05:12AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST Zoom Communications forecast annual revenue below Wall Street estimates on Monday, in a sign of weak demand for its wide range of conferencing tools as employers gradually move away from hybrid work models.The company's shares were down 4 per cent in extended trading.Zoom had seen rapid growth in users and subscribers during the pandemic-induced lockdowns, but concerns are being raised over the sustainability of the current demand for video conferencing.The company also faces stiff competition from Microsoft's collaboration software Teams.Zoom expects fiscal 2026 revenue between $4.79 billion and $4.80 billion, compared with the average analyst estimate of $4.81 billion, according to data compiled by LSEG.Source: ReutersSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST