"I think we were talking about most of us are probably socializing in person now, doing fewer things like Zoom Happy Hours, and that's where we are starting to see some of the challenges," acknowledged Zoom CFO Kelly Steckelberg on an earnings call with analysts. The company saw slowing sequential growth rates in customers spending in excess of $100,000 a year with the company (131% in the second quarter versus 160% in the first quarter) and spending with 10 or more employees (36% growth in the second quarter versus 67% growth in the first quarter). 31 after a mixed second quarter and outlook. Zoom shares crashed 17% to $289.50 on Aug. But investors have taken a bit of a pause on the stock as they try to determine what a post-pandemic Zoom looks like financially. That may well be the case - after all Zoom was Yahoo Finance's Company of the Year in 2020 for a reason. It is not just about video and stay-at-home or even hybrid - it's much bigger than that," Wood said on Yahoo Finance Live in an exclusive interview. Enterprise communications is a $1.5 trillion opportunity, and we believe that Zoom is on its way to usurping the role of players like Cisco in the years ahead. In other words, it is going to start taking more share of the communications stack in technology. We think it's going to, with the Zoom phone, take over the PBX system. Many people think of Zoom as nothing more than these video sessions. "We think there is a transformation taking place in the communication sector. Cathie Wood picked up some shares of Zoom ( ZM) this week after an earnings related meltdown.įor the founder, CEO and CIO of Ark Invest, the $56 million purchase was a no brainer given the importance of Zoom to the future of communication.
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