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 (NASDAQ: ZM) appointed Cindy Hoots, former Chief Digital Officer and CIO of AstraZeneca, as an independent director on its Board, effective immediately. Hoots expressed enthusiasm about contributing to Zoom’s vision and its impact on business collaboration. CEO Eric Yuan highlighted her vast experience in regulated industries, anticipating significant value added as Zoom expands within the healthcare sector. Hoots has held leadership roles in several major firms, showcasing her extensive industry knowledge.
Zoom Video Communications has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Unified Communications as a Service (UCaaS), marking the third consecutive year of this achievement. The report assessed 12 companies, and Zoom was highlighted for its innovative offerings such as Zoom Team Chat, Zoom Phone, Zoom Meetings, and Zoom Whiteboard. The integration of meetings into the UCaaS category reflects an evolving industry landscape. CEO Greg Tomb emphasized Zoom's focus on user-friendly innovations and customer satisfaction.
Cvent and Zoom Video Communications have announced a collaboration aimed at enhancing hybrid events. This integration allows organizations using Cvent for in-person events to seamlessly connect with Zoom Events, providing an engaging hybrid experience. Attendees can experience this collaboration at Zoomtopia 2022. The partnership signifies a strategic move to support organizations in managing complex event environments effectively, leveraging technology to boost attendee engagement.
Zoom Video Communications (NASDAQ: ZM) unveiled new features at Zoomtopia 2022 to enhance its collaboration platform. Key announcements include Zoom Mail and Calendar (beta) for integrated communication, Zoom Spots offering virtual co-working spaces, and the Zoom Virtual Agent, a conversational AI tool. The event featured a hybrid format for the first time, emphasizing the importance of connections in modern work. With over 1,500 features launched this year, Zoom aims to be a comprehensive solution for businesses adapting to hybrid work environments.
AMC Theatres (NYSE: AMC, APE) and Zoom Video Communications (NASDAQ: ZM) are partnering to introduce Zoom Rooms at select AMC locations in up to 17 U.S. cities, aiming to facilitate hybrid work environments. This initiative allows companies to host virtual and in-person meetings in AMC's modern theatres, equipped with state-of-the-art technology. Users will be able to book their preferred theatres online for a three-hour time block, featuring additional services like food options and movie viewings. The launch is anticipated in late 2023.
Zoom Video Communications (NASDAQ: ZM) will release its financial results for Q3 fiscal year 2023 on November 21, 2022, after market close. A live webinar will occur at 2:00 PM PT / 5:00 PM ET, accessible via Zoom's investor relations website. A replay will be available shortly after the event. The company aims to maintain its leadership in video communication, offering a scalable and secure platform for various users.
Zoom Video Communications, Inc. (NASDAQ: ZM) will host its Investor Day on November 8, 2022, during Zoomtopia, its annual customer event, taking place in San Jose and virtually. The event will start at 2 PM ET and last approximately three hours, featuring insights into Zoom's business strategy, opportunities, metrics, and initiatives from the executive team. Registration details for the live webinar and post-event recording will be available on Zoom's investor website.
Zoom Video Communications (ZM) reported Q2 revenue of $1,099.5 million, an 8% increase year-over-year. The GAAP operating margin is 11.1%, with a non-GAAP margin of 35.8%. While the number of customers contributing over $100,000 in revenue rose 37% annually, the company faced challenges from a strong U.S. dollar and backend sales weighted performance. Zoom expects FY23 revenue between $4.385 billion and $4.395 billion, with non-GAAP EPS projected at $3.66 to $3.69.
Zoom Video Communications (NASDAQ: ZM) has announced that it will release its financial results for the second quarter of fiscal year 2023 on August 22, 2022, after the market closes. A live webinar will be hosted at 2:00 PM PT / 5:00 PM ET, accessible via Zoom's investor relations website. A replay will be available shortly after the event concludes.
Founded in 2011, Zoom offers a range of communication solutions and is known for its innovative approach in the video communications space.
FAQ
What is the current stock price of Zoom Video Communications (ZM)?
What is the market cap of Zoom Video Communications (ZM)?
What does Zoom Video Communications, Inc. do?
When was Zoom founded?
Where is Zoom headquartered?
What are some recent achievements of Zoom?
What is the financial performance of Zoom for the fiscal year ending January 31, 2024?
What innovative products has Zoom recently launched?
What is the focus of Zoom’s mission?
Who are the key people in Zoom’s management?
What strategic partnerships has Zoom formed?
What new features are available in Zoom’s latest product offerings?
