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 (NASDAQ: ZM) is set to announce its fourth quarter and full year results for fiscal year 2021 on March 1, 2021, after market close. Investors can join a live webinar at 2:00 PM PT / 5:00 PM ET on Zoom’s investor relations website. A recorded replay will be available two hours post-event for one week. Zoom continues to enhance its video-first platform, facilitating seamless communication and collaboration across various devices and applications.
Zoom Video Communications (NASDAQ: ZM) has successfully closed its public offering of 5,882,353 shares of Class A common stock at $340.00 per share, generating gross proceeds of $2.0 billion. This includes 735,294 shares from the underwriter's option. The offering was made under a shelf registration statement filed with the SEC, effective as of January 12, 2021. J.P. Morgan served as the sole book-running manager. The funds raised will support Zoom's operational and business growth strategies.
Zoom Video Communications, Inc. (NASDAQ: ZM) announced the pricing of an underwritten public offering of 5,147,059 shares at $340.00 each, raising approximately $1.75 billion. The offering, expected to close around January 15, 2021, includes a 30-day option for underwriters to buy an additional 735,294 shares. This move follows Zoom's shelf registration statement with the SEC, which became effective on January 12, 2021, allowing the company to facilitate this public offering.
Zoom Video Communications (NASDAQ: ZM) announced the sale of one million Zoom Phone seats just before its two-year anniversary. This milestone reflects the strong service performance, reliability, and enterprise-grade features of Zoom Phone. The product has gained traction in 44 countries, offering centralized management and integration with contact centers. Analysts and customers alike, including eBay, praise Zoom Phone for its effective pricing model and seamless communication capabilities, demonstrating its growing importance in unified communications.
Zoom Video Communications (NASDAQ: ZM) has announced a public offering of $1.5 billion in shares of its Class A common stock, with a 30-day option for underwriters to purchase an additional $225 million. All shares offered will be sold by Zoom. The offering is subject to market conditions, and there is no certainty regarding the timing or completion. J.P. Morgan is the sole book-running manager. The shares are offered under a shelf registration statement that became effective on January 12, 2021. This press release does not constitute an offer to sell securities.
Zoom Video Communications has announced plans to open a new Research and Development Center in Singapore and double its co-located data center's capacity. This initiative aims to harness Singapore's engineering talent and is part of Zoom's broader global expansion strategy. The R&D center will complement existing facilities in the US, India, and China, enhancing Zoom's engineering leadership. The investment aligns with Singapore's pro-business environment and aims to provide enhanced quality, security, and reliability for users in the Asia Pacific region.
Zoom Video Communications reported a remarkable third quarter revenue of $777.2 million, reflecting a 367% year-over-year increase. The number of customers generating over $100,000 in revenue has surged by 136% to 1,289. The company also experienced a significant rise in customers with over 10 employees, totaling approximately 433,700, a 485% increase. For the full fiscal year 2021, Zoom anticipates revenues between $2.575 billion to $2.580 billion, which would represent a 314% year-over-year growth.
Zoom Video Communications head of sales operations, Hilary Headlee, was awarded the 2020 B2B Innovator Award for excellence in the category of Top B2B Technologists. Her leadership in adopting LeanData's lead-management solutions significantly contributed to Zoom's ability to swiftly respond to the surge in demand for its services amid the COVID-19 pandemic. Daily meeting participants skyrocketed from 10 million in December 2019 to 300 million by April 2020, showcasing Zoom's pivotal role in facilitating connectedness during this crisis.
Zoom Video Communications has been recognized as a Leader in Gartner's 2020 Magic Quadrant for both Meeting Solutions and Unified Communications as a Service (UCaaS). This marks Zoom's sixth appearance as a Leader in Meeting Solutions and its first in UCaaS. Gartner evaluated 15 companies for Meeting Solutions and 14 for UCaaS, considering factors such as ease of use and service reliability. Zoom's strengths include a robust feature set, security enhancements, and a commitment to customer satisfaction, reinforcing its position in the video communications market.
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