Welcome to our dedicated page for Zoom Video Communications news (Ticker: ZM), a resource for investors and traders seeking the latest updates and insights on Zoom Video 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, Inc. (NASDAQ: ZM) will hold a Financial Analyst Meeting on October 14, 2020, during its Zoomtopia customer event. The executive team will present Zoom's business strategy and initiatives. Interested participants can join via a live Zoom Video Webinar at 11:00 am PT / 2:00 pm ET through the investor relations website. A replay will be available approximately three hours post-event. Established in 2011, Zoom specializes in video communications and aims to enhance user experiences through innovative integrations and tools.
Zoom Video Communications (NASDAQ: ZM) will host its annual user conference, Zoomtopia, virtually on October 14-15, 2020. The event will feature keynotes from business leaders including Mark Cuban and Arianna Huffington, along with celebrity appearances. Zoomtopia aims to celebrate users and showcase the transformative power of video-first communications. Attendees will gain insights from over 125 sessions with more than 80 speakers. The company emphasizes the enhanced attendee experience that virtual events provide compared to in-person gatherings.
Lumen Technologies has partnered with Zoom Video Communications to integrate Zoom into its Unified Communications and Collaboration Suite. This collaboration aims to enhance service delivery and customer support for Zoom users globally, leveraging Lumen's robust global network for improved quality and security. The partnership underscores the growing importance of unified communications in today's business landscape, providing a video-first platform to meet increasing customer demand.
Lumen and Zoom Video Communications have announced a strategic partnership allowing Lumen to offer Zoom as part of its Unified Communications and Collaboration Suite. This collaboration aims to enhance services around Zoom's video-first platform for businesses globally. Lumen will leverage its extensive network to deliver superior quality and integrate security features, creating a robust enterprise experience. The partnership addresses the increasing demand for unified communications and aims to provide comprehensive managed services to users.
Zoom Video Communications (NASDAQ: ZM) announces the launch of "Zoom Where It Happens," a live table read series aimed at promoting voting rights. The series features renowned Black women artists and will stream every Tuesday night until Election Day 2020. The first episode stars Regina King, Tracee Ellis Ross, Alfre Woodard, and Sanaa Lathan in a re-enactment of a classic "Golden Girls" episode. Viewers can register for free access and receive election information. The initiative aims to engage and mobilize voters while supporting organizations focused on civic engagement.
Zoom Video Communications reported a remarkable revenue growth of 355% year-over-year for Q2 FY21, totaling $663.5 million. The number of customers generating over $100,000 in revenue surged by 112%, while those with more than 10 employees increased 458%. The company raised its full year revenue outlook to approximately $2.37 billion to $2.39 billion, reflecting an expected 281% to 284% increase year-over-year. For Q3 FY21, projected revenue is between $685 million and $690 million.
Zoom Video Communications, Inc. (NASDAQ: ZM) has partnered with the United States Tennis Association (USTA) to enhance the virtual experience during the US Open Tennis Championships from August 31 to September 13, 2020. This collaboration includes two exclusive VIP virtual hospitality events featuring interactions with tennis legends and culinary tutorials. Additionally, a celebrity-hosted fundraising gala will support the USTA Foundation's 'Rally To Rebuild' campaign, honoring healthcare workers through a virtual interview series. This innovative approach highlights Zoom's commitment to engaging customers through virtual platforms.
On August 25, 2020, Zoom Video Communications (NASDAQ: ZM) announced a partnership with Cardinal Health, involving over 17,000 users who will utilize Zoom's unified communications platform. This move aims to enhance workflow and team connectivity across 46 countries. Cardinal Health selected Zoom for its reliability and quality of service, allowing for improved collaboration and modern workplace experiences. The partnership highlights the increasing importance of video communications in the healthcare sector.
Zoom Video Communications (NASDAQ: ZM) is expanding its Zoom for Home service to popular smart displays including Amazon Echo Show, Portal from Facebook, and Google Nest Hub Max. This move is aimed at enhancing remote work capabilities as a recent study indicates a significant increase in remote work preferences. Zoom on Portal will be available in September, while the other devices will see availability by year-end. Features include calendar integration and high-definition video calls, designed to facilitate both personal and professional connections.
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