Zoom forecasts quarterly profit below estimates
Zoom Communications forecast third-quarter profit below Wall Street expectations on Tuesday, signaling stiff competition was squeezing the video-conferencing company even as it ramps up AI features on its services.
Shares of the San Jose, California-based company fell 3.8% in extended trading.
Zoom has been rolling out AI tools, including an AI Companion assistant, a meeting receptionist assistant and its suite of enterprise-focused AI features under “Zoom AI Services” to attract more customers.
