Welcome to our dedicated page for Zoom Communications news (Ticker: ZM), a resource for investors and traders seeking the latest updates and insights on Zoom Communications stock.
Zoom Video Communications, Inc. is a leading provider of communication technology, specializing in video conferencing, online meetings, and group messaging. Founded in 2011 and headquartered in San Jose, California, Zoom has revolutionized how people connect, collaborate, and communicate in the digital age. Zoom's cloud-native platform enables seamless face-to-face video interactions, connecting users across a wide range of devices and locations, including Windows PC, Mac, iOS, Android, Zoom Rooms, and H.323/SIP room systems. The company's mission is to create a people-centric cloud service that enhances real-time collaboration and improves communication quality and effectiveness.
Zoom has achieved significant milestones, including being named a New Leader in the 2016 Gartner Web Conferencing Magic Quadrant, and earning spots on the Forbes Cloud 100 list and the JMP Hot 100. As of recent developments, Zoom has introduced innovative product offerings such as the Zoom Contact Center, which now serves over 700 customers globally. This platform includes advanced AI solutions, omnichannel capabilities, and workforce management tools, providing exceptional value for businesses of all sizes.
Financially, Zoom continues to show strong performance, with a notable increase in free cash flow and profitability. In the fiscal year ending January 31, 2024, Zoom reported a free cash flow of $1,471.9 million, representing a 32.5% margin. Furthermore, Zoom has announced a stock repurchase program of up to $1.5 billion, reflecting its confidence in the company's long-term growth prospects.
Zoom's commitment to innovation is evident in its continuous introduction of new features and products. The company recently unveiled the Zoom AI Companion, a generative AI digital assistant designed to boost productivity and team effectiveness. This AI companion is offered at no extra charge with a paid license, further democratizing access to advanced AI tools.
Additionally, Zoom has formed strategic partnerships to enhance its offerings. A notable collaboration with Avaya integrates Zoom's AI-powered platform with Avaya’s Communication and Collaboration Suite, providing enterprise customers with sophisticated, user-friendly solutions without disrupting existing systems. Zoom's Workplace platform, powered by AI, is designed to streamline communications, increase engagement, and improve productivity for businesses worldwide.
Zoom Video Communications (ZM) has launched the Zoom Phone Bring Your Own Carrier (BYOC) program, enhancing reseller opportunities and customer flexibility. This program allows businesses to keep their existing PSTN providers while enjoying Zoom Phone functionalities. Currently, a pilot program is in place for select resellers, with wider availability expected by year-end. Zoom Phone has achieved a milestone of 2 million seats within just 10 quarters, indicating strong market demand. The Zoom Phone Provider Exchange will soon facilitate direct connections for customers to choose their preferred service providers.
RealWear has announced a partnership with Zoom to enhance the use of its assisted reality headset devices for frontline workers at ExxonMobil. The RealWear HMT-1Z1, certified for hazardous environments, allows hands-free operation and integrates with Zoom for remote expert guidance. Since 2017, ExxonMobil has utilized these devices, with plans for future applications such as self-guided work instructions and IoT data visualization. This collaboration aims to innovate and improve operational efficiency for frontline teams globally.
Zoom Video Communications hosted Zoomtopia 2021, showcasing innovations for hybrid work environments. Key announcements include the Zoom Video Engagement Center and Zoom Whiteboard, designed to enhance collaboration. Eric S. Yuan, CEO, highlighted a surge in new features over the last year, claiming that advancements in AI-driven services like live transcription will reshape communication. Zoom also announced plans for Zoom Events Conference, enabling customized virtual events. Additionally, a $2 million fund was established to support mental health initiatives.
Zoom Video Communications (NASDAQ: ZM) will hold a Financial Analyst Briefing on September 13, 2021, during its Zoomtopia event. Hosted by the executive team, the briefing will cover Zoom's business strategy, opportunities, and initiatives.
Participants must register for Zoomtopia to attend the briefing, which starts at 2 PM ET and lasts for approximately two hours. A replay will be available three hours post-event on their investor site. Founded in 2011 and headquartered in San Jose, Zoom continues to be a leader in video communications.
Zoom Video Communications (ZM) reported impressive Q2 results for FY2022, achieving total revenue of $1,021.5 million, a 54% year-over-year increase. The company recorded a GAAP operating margin of 28.8% with non-GAAP operating margin at 41.6%. Net income rose to $316.9 million or $1.04 per share, up from $185.7 million or $0.63 per share in the prior year. Zoom's customer base included 2,278 customers contributing over $100,000 in TTM revenue, up 131% year-over-year. The guidance for Q3 revenue is projected between $1.015 billion and $1.020 billion.
In Q2 2021, Zoom Video Communications reported $1,021.5 million in revenue, marking a 54% year-over-year increase and achieving its first billion-dollar revenue quarter. The company noted a significant rise in customers contributing over $100,000 in TTM revenue, up 131% year-over-year. GAAP operating margin was 28.8% while non-GAAP operating margin stood at 41.6%. Net income was $316.9 million or $1.04 per share. For Q3 FY2022, Zoom projects revenue between $1.015 billion and $1.020 billion.
Zoom Video Communications (NASDAQ: ZM) will release its financial results for the second quarter of fiscal year 2022 on August 30, 2021, post-market close. Investors can access a live webinar at 2:00 PM PT through the company's investor relations website. A replay will be available two hours after the live event concludes.
Zoom continues to innovate in enterprise communications, positioning itself as a scalable and secure platform for diverse users, from large enterprises to individuals. The company's ongoing commitment to enhancing video communication standards underscores its growth potential.
Zoom Video Communications announced the launch of Zoom Apps and Zoom Events, enhancing video communication for a hybrid workforce. Zoom Apps integrate third-party applications into meetings, improving productivity and collaboration, featuring over 50 apps like Asana and Dropbox Spaces. Zoom Events provide a platform for hosting virtual and hybrid events with tools for seamless management and reporting. These innovations aim to empower users and expand Zoom's market presence, reflecting the company's focus on adapting to evolving work dynamics.
Zoom Video Communications has announced a definitive agreement to acquire Five9 for approximately $14.7 billion in an all-stock transaction.
This acquisition aims to enhance Zoom's capabilities in the $24 billion contact center market by integrating Five9's cloud contact center solutions.
This strategic move is expected to accelerate Zoom's growth, delivering a more comprehensive customer engagement platform and creating significant cross-selling opportunities for both companies.
Zoom Video Communications has announced its acquisition of Kites GmbH, a start-up specializing in real-time Machine Translation (MT) solutions. The acquisition aims to enhance Zoom's platform with multi-language translation features, improving meeting productivity for users globally. Founded in 2015, Kites is expected to integrate its 12 research scientists into Zoom's engineering team. The financial terms of the transaction were not disclosed, and forward-looking statements indicate potential risks and uncertainties regarding the anticipated benefits of this acquisition.
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