Zoom's Latest Report Shows There Is Life Beyond The Pandemic Way Of Work
Portfolio Pulse from Upwallstreet
Zoom Video Communications (NASDAQ:ZM) exceeded Q2 estimates and raised its full-year outlook, causing its shares to rise 8%. However, shares fell 6% as Wall Street compared the figures to rival Microsoft Corporation (NASDAQ:MSFT). Zoom's Q2 revenue increased 3.6% YoY to $1.14 billion, with enterprise revenue making up 58% of total revenue. Net income expanded to $182 million. Zoom's Q3 outlook expects adjusted earnings per share between $1.07 and $1.09 and revenue between $1.115 billion and $1.120 billion. Zoom also invested in AI startup Anthropic to compete with Microsoft Teams.
August 22, 2023 | 5:08 pm
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Salesforce integrated Microsoft-backed ChatGPT to its collaboration software Slack, which competes with Zoom for enterprise customers.
Salesforce's integration of Microsoft-backed ChatGPT to its collaboration software Slack shows its efforts to compete with Zoom for enterprise customers. This could potentially impact Salesforce's shares, but the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Microsoft's Teams is seen as a strong competitor to Zoom, which could potentially impact Microsoft's shares.
Microsoft's Teams is seen as a strong competitor to Zoom, which could potentially impact Microsoft's shares. However, the impact is uncertain as it depends on how well Zoom's investment in AI startup Anthropic can compete with Teams.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Zoom exceeded Q2 estimates and raised its full-year outlook, but shares fell as Wall Street compared to Microsoft. Zoom also invested in AI startup to compete with Microsoft Teams.
Zoom's positive Q2 results and raised outlook initially boosted its shares, but they fell as Wall Street compared the figures to Microsoft. The investment in AI startup Anthropic shows Zoom's efforts to compete with Microsoft Teams, which could potentially boost its shares in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100