ZM - Zoom Tops Estimates As It Pledges To Democratize AI Access | Benzinga
Zoom Video Communications Inc (NASDAQ: ZM) joined Big Tech players such as Microsoft Corporation (NASDAQ: MSFT) in riding the AI-hype wave. Despite intense and scary competition from Microsoft and Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL)-owned Google, Zoom managed to hold its ground as the industry finds itself in a period of transition as new AI-powered era continues to unfold. Zoom was a rewarded for its results with shares rising as much as 13% on Monday during extended trading.
Fiscal Fourth Quarter Results
For the quarter ended on January 31st, Zoom reported revenue rose almost 3% YoY to $1.15 billion, topping LSEG’s estimate of $1.13 billion. Zoom made a net income of $298.8 million, or 98 cents per share, making a turnaround from last year’s comparable quarter when it reported a net loss of $104.1 million, or 36 cents per share,
Its main rival, Microsoft ...