Zoom Video Communications raised its annual revenue forecast due to strong demand for its AI-driven collaboration tools for hybrid working models. After the trading day, the company’s shares rose 3%. Zoom has doubled its artificial intelligence efforts and expanded its service offerings to capitalise on the growing trend of hybrid work models.
The company’s AI-powered omnichannel platform, Zoom Contact Center, won several prominent clients in the second quarter, including the largest single-order deal to date. The number of large accounts, whose customers contribute more than $100,000 per year, increased 7.1%. Average monthly online churn also reached its lowest rate ever.
Zoom has begun searching for a successor to chief financial officer Kelly Steckelberg, whose last day at the company will be the day after earnings are announced for the quarter ending 31 October.
The company expects revenue for fiscal year 2025 to be between $4.63 billion and $4.64 billion, compared with the previous forecast of $4.61 billion and $4.62 billion. Second-quarter revenue of $1.16 billion also beat LSEG estimates of $1.15 billion.
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