BUZZ-Zoom Communications hits near 4-mth low on bleak revenue outlook

Reuters
02-25
BUZZ-<a href="https://laohu8.com/S/ZM">Zoom</a> Communications hits near 4-mth low on bleak revenue outlook

Updates

** Shares of Zoom Communications ZM.O plunge 9.5% to $73.30 in early trading, hitting their lowest since Oct. 29

** Video conferencing platform forecasts FY and Q1 rev below Wall Street estimates as employers gradually move away from hybrid work models

** Following Trump's return-to-office order, companies like JPMorgan Chase JPM.N, Amazon AMZN.O and AT&T T.N have mandated a five-day office week, reducing demand for remote meetings

** J.P.Morgan sees co as cautiously optimistic; notes modest rev growth, strong free cash flow

** Says it is encouraged by co's innovation, especially in AI, but mixed macro environment remains a concern

** Stock rated "hold" on avg; median PT is $90.70 - LSEG

** ZM down 0.74% so far this year, as of Monday's close

(Reporting by Rashika Singh in Bengaluru)

((rashika.singh@thomsonreuters.com))

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