Zoom beats Q3 estimates as AI tools drive enterprise growth
The post Zoom beats Q3 estimates as AI tools drive enterprise growth appeared com. Zoom Video Communications has announced that its quarterly revenue exceeded the analysts’ predictions. This revenue outcome demonstrated outstanding performance for the software company’s diverse range of business tools. In a statement released on Monday, November 24, Zoom noted that its sales increased by 4. 4% to reach an all-time high of $1. 23 billion in the fiscal third quarter. The profit gained, after eliminating specific items, was reported at $1. 52 per share. According to the earlier prediction presented by the analysts, a reliable source noted that the company’s average earnings were expected to be $1. 44 per share. At the same time, revenue was estimated to total around $1. 21 billion. Zoom makes significant progress in increasing revenue Recent reports highlighted that Zoom is expanding its reach in the tech market by broadening its offerings to provide business phone systems and software designed for contact centers. Notably, the company is famous for its popularly adapted videoconferencing application. Additionally, it launched the newest version of its artificial intelligence assistant during its September annual conference. This AI assistant included upgraded features that allowed users to develop custom AI tools for a monthly fee of $12. Eric Yuan, the founder and CEO of Zoom, commented on this progress. Yuan noted that they expected a substantial rise in AI Companion usage following the launch of their artificial intelligence assistant, AI Companion 3. 0, in this quarter. He made these remarks after acknowledging rapid growth in Custom AI Companion and its AI-first Customer Experience suite. Meanwhile, reports from sources indicated that the company’s shares surged approximately 4% in after-hours trading. This increase occurred after the stock closed at $78. 60 in New York on Monday of this week. The stocks, on the other hand, dropped drastically by 3. 7% this year, following general concerns raised in the market regarding application software. Revenue.
