Zoom down for more than a thousand users

Zoom Video Communications Inc’s video-conferencing platform was down for more than a thousand users on Wednesday, according to outage tracking website Downtector.com.

User reports indicate Zoom is having problems since 9:21 AM EST. https://t.co/cKwKRhjLkE RT if you're also having problems #zoomdown

— Downdetector (@downdetector) March 3, 2021

Downdetector showed there were nearly 2,000 incidents of people reporting issues with Zoom at its peak, at 9 a.m. ET. Zoom has seen a meteoric rise in users thanks to remote work and online learning against the backdrop of stay-at-home orders.

Telecom operator Verizon Communication Inc’s services were also down for nearly 5,400 users at its peak, at 10 a.m. ET, according to Downdetector.

Verizon did not immediately respond to a request for comment.

Downdetector tracks outages by collating status reports from a series of sources, including user-submitted errors on its platform. The outages might be affecting a larger number of users.

(Reporting by Eva Mathews in Bengaluru; Editing by Shounak Dasgupta)

Zoom shares rise on strong current-quarter forecast, upbeat results

Zoom Video Communications Inc forecast current-quarter revenue above expectations, as the company expects millions of people to continue using its video-conferencing platform to work remotely and attend online classes, sending its shares up 10%.

When the COVID-19 pandemic hit, Zoom was a relative upstart founded by a former Cisco executive that had gone public on a promise to make video conferencing software easier to use.

However, businesses around the globe took to the company’s video conferencing services during the virus outbreak. Zoom has since seen a meteoric rise over the last year, with investors keen on knowing if the firm can maintain this level of growth.

Eric Yuan, founder and chief executive officer of Zoom, said the firm was “well positioned for strong growth” in the coming year.

The company forecast current-quarter revenue between $900 million and $905 million, compared with estimates of $829.2 million, according to IBES Refinitiv data.

Zoom has seen its user numbers surge in the past year, while its shares more than quadrupled during the same period. The platform said it has 1,644 customers contributing more than $100,000 in trailing 12 months revenue, more than double from a year earlier.

The company reported quarterly revenue of $882.5 million, compared with estimates of $811.8 million. On an adjusted basis, Zoom earned $1.22 per share, beating estimates of 79 cents per share.

The company’s shares, which closed up 9.6% on Monday, were trading at $452 after the bell.

(Reporting by Eva Mathews in Bengaluru; Editing by Shounak Dasgupta)

Related Articles

How to Relax With CBD

Best Hiking Gear on Amazon