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.
RingCentral (NYSE: RNG) and Zoom (NASDAQ: ZM) have mutually agreed to withdraw from all ongoing legal proceedings, allowing both companies to focus on transitioning RingCentral Meetings customers to the new RingCentral Video™ platform. The resolution means no further claims will be pursued, ensuring customers experience a smooth migration with full support during the transition period. RingCentral's existing customers will continue to receive core features and updates throughout this process. Further details regarding the settlement were not disclosed.
RingCentral (NYSE:RNG) and Zoom (NASDAQ: ZM) have agreed to mutually withdraw from various legal proceedings, facilitating a smooth transition from RingCentral Meetings to RingCentral Video. This settlement resolves all litigation claims, providing clarity for RingCentral's existing customers. Jeff True, Zoom's General Counsel, expressed satisfaction with the resolution, while John Marlow from RingCentral highlighted the assurance for current customers during the migration. Further details regarding the settlement have not been disclosed.
Zoom Video Communications, Inc. (NASDAQ: ZM) will announce its fourth-quarter and full fiscal year 2022 financial results on February 28, 2022, post-market close. A live webinar of the release will take place at 2:00 pm PT / 5:00 pm ET, accessible via Zoom's investor relations website. A replay will be available shortly after.
Founded in 2011 and headquartered in San Jose, California, Zoom provides a frictionless communication platform that is scalable and secure for various users, including large enterprises and individuals.
Zoom Video Communications (NASDAQ: ZM) announces its inaugural Work Transformation Summit on January 19, 2022, aimed at equipping businesses with actionable strategies for the evolving work environment. Key speakers include executives from Walmart, Gallup, and Momentive, alongside Zoom's CEO, Eric S. Yuan. The summit will feature discussions on effectively implementing flexible work models and introduce several platform innovations, such as Zoom Whiteboard and the Video Engagement Center, designed to enhance collaboration and accessibility.
Zoom Video Communications (NASDAQ: ZM) announced that its Meeting Client version 5.6.6 has achieved the Common Criteria Evaluation Assurance Level 2 certification, issued by the German Federal Office for Information Security (BSI). This certification reinforces Zoom's commitment to security, making it the first video communications client to attain this recognition. Common Criteria is a global benchmark in cybersecurity, mutually recognized in over 25 countries. The certification process evaluated various security aspects, showcasing Zoom's integrity in delivering secure communication solutions.
Brundidge & Stanger P.C. has initiated a patent infringement lawsuit against Zoom Video Communications (NASDAQ: ZM) on November 9, 2021. The complaint is valued at hundreds of millions and claims Zoom used Cyph, Inc.'s proprietary End-to-End Encryption technology without compensation from November 2020 to the present. Cyph alleges that Zoom misled clients regarding data security by employing its encrypted technology. Cyph, founded by former SpaceX engineers, emphasizes the significance of its patented security systems in enabling secure communications.
oVice Partners with Zoom for Improved Communication
SAN JOSE, Calif., Dec. 02, 2021 - oVice has announced a partnership with Zoom Video Communications, enhancing user experience by allowing seamless access to Zoom meetings directly from the oVice platform. This collaboration responds to increasing telework trends, with oVice already serving over 10,000 users since its launch. The integration will facilitate easier navigation between multiple Zoom meetings and foster collaboration, supporting hybrid work environments. With a focus on future growth, oVice aims to develop as a 'virtual real estate' company.
Zoom Video Communications reported a strong third quarter for fiscal year 2022, with total revenue reaching $1,050.8 million, up 35% year-over-year. The number of customers generating over $100,000 in trailing twelve-month revenue surged 94%. Operating margins stood at 27.7% (GAAP) and 39.1% (non-GAAP). The company expects fourth quarter revenue between $1.051 billion and $1.053 billion, with full year forecasted revenue of $4.079 billion to $4.081 billion, signaling a potential 54% growth year-over-year.
Zoom Video Communications, Inc. (NASDAQ: ZM) will release its financial results for the third quarter of fiscal year 2022 on November 22, 2021, after market close. A live webinar will follow at 2:00 PM PT / 5:00 PM ET, accessible via Zoom's investor relations website. A replay of the event will be available approximately two hours post-conclusion. Founded in 2011 and based in San Jose, Zoom is a leader in frictionless enterprise communications, enabling connectivity and innovative solutions for businesses and individuals alike.
Zoom Video Communications (NASDAQ: ZM) has been named a Leader in the 2021 Gartner Magic Quadrant for UCaaS, marking its second consecutive year in this position. The report assessed 14 companies in the Unified Communications as a Service (UCaaS) sector and recognized Zoom for its reliability and user-friendly technology, which includes Zoom Meetings, Chat, and Phone.
CEO Eric Yuan expressed gratitude for this recognition, highlighting Zoom's commitment to meeting the growing communication demands of modern workforces.
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