Zoom nearly doubles revenue forecast on remote-work boost, but costs rising

Chief Financial Officer Kelly Steckelberg said the April peak usage of 300 million daily meeting participants declined slightly in May.Zoom company competes with Cisco Systems Inc'sWebex, Microsoft CorpTeams and Google'sMeet platform for paying customers, particularly enterprises, while offering a free version to consumers.While Zoom's revenue increased sharply, its costs rose even more steeply.