(Reuters) -Zoom Video Communications forecast third-quarter profit above Wall Street estimates on Monday, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools.
Shares of the video-conferencing platform rose more than 4% in trading after the bell.
Video conferencing platforms including Zoom, Microsoft’s Teams and Cisco’s Webex among others became household names during the pandemic as businesses and individuals turned to them for connecting with employees and friends.
The San Jose, California-based company expects adjusted profit per share between $1.07 and $1.09 for the third quarter, above analysts’ average estimate of $1.03 per share, according to Refinitiv data.
Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts’ average estimate of $1.13 billion, according to Refinitiv data.
Revenue for the quarter ended July 31 rose 3.6% to $1.14 billion, above analysts’ average expectations of $1.12 billion.
Excluding items, the company posted second-quarter profit of $1.34 per share, compared with $1.05 per share a year earlier.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra Eluri)
