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Technology Zoom Video lowers sales outlook for the entire year

11:40  22 november  2022
11:40  22 november  2022 Source:   pressfrom.com

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Bangalore (Reuters) - the US video service Zoom lowers its sales outlook for the year as a whole.

ARCHIV: Das Logo von Zoom Video Communications auf der NASDAQ MarketSite in New York © Thomson Reuters Archive: The Logo of Zoom Video Communications on the Nasdaq Marketday Market site in New York

A falling demand for the video conference platform and increasing competition made Zoom, the company from San Jose announced on Monday after closing. Zoom now expects revenue between $ 4.37 billion and $ 4.38 billion. The company had previously assumed $ 4.40 billion of $ 4.39 billion. However, Zoom increased the outlook for the adjusted result to $ 3.91 to $ 3.94 per share of $ 3.66 to $ 3.69 per share. In the third quarter, the company increased its turnover by five percent to $ 1.1 billion. For some time now, Zoom has been feeling the strong competition from webex from Cisco, Slack from Salesforce and Microsoft Teams as well as Google Meet. In Corona pandemic, the company benefited from the trend to flexible work between home office and office. The zoom shares gave up 3.7 percent in post-market trade.

(Report by Tiyashi Data, written by Birgit Mittwollen. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets). )

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