May 23 (Reuters) - Zoom Video Communications Inc
raised its full-year adjusted profit forecast on Monday, betting
on robust demand from large businesses in a hybrid work
environment, sending shares of the company up 15% in extended
Revenue from Zoom's high-paying enterprise customers jumped
31% in the first quarter, representing 52% of its total revenue,
the company said.
"We expect revenue from enterprise customers to become an
increasingly higher percentage of total revenue over time,"
Chief Financial Officer Kelly Steckelberg said in a
post-earnings call with analysts.
The company said adjusted operating margin rose 37.2% in the
quarter ended April 30 as efforts to expand its enterprise
offerings to customer service contact centers, cloud calling and
analytics companies paid off.
Zoom had recently announced the acquisition of Solvvy, an AI
startup, and launched Zoom IQ, a call analytics tool for sales
For the full year, Zoom forecast adjusted profit per share
to be between $3.70 and $3.77, compared with earlier
expectations of between $3.45 and $3.51.
However, the company reported revenue rose 12% to $1.07
billion in the first quarter, its slowest growth on record.
Over the past few quarters, demand for the company's
platform had slowed as COVID-19 lockdowns eased and competition
intensified from Microsoft's Teams and Cisco's
WebEx and Google's Meet.
Still, the San-Francisco-based firm reported first-quarter
profit that beat expectations and forecast earnings for the
current quarter above estimates.
Shares of Zoom, a pandemic darling, have tumbled 85% since
they touched a record high in 2020.
(Reporting by Eva Mathews in Bengaluru; Editing by Amy Caren