Zoom Communications Inc - ZM STOCK NEWS

ServiceNow (NYSE: NOW) and Zoom (NASDAQ: ZM) announced an expanded strategic alliance at Zoomtopia 2024 to integrate their generative AI technologies, ServiceNow Now Assist and Zoom AI Companion, in the first half of 2025. This integration aims to offer advanced workflow automation across both platforms, enhancing collaboration and productivity in enterprises.

The integration will allow Zoom AI Companion to summarize and transcribe team discussions, turning action items into tasks connected to ServiceNow workflows. Now Assist for Strategic Portfolio Management can then trigger proper workflows, automatically creating and assigning tickets. This collaboration seeks to transform unstructured conversations into structured data linked to intelligent workflows.

The integration requires the purchase of both Zoom's custom AI Companion add-on and ServiceNow Now Assist, with general availability expected in the first half of 2025.

Zoom unveiled AI-first work platform innovations at Zoomtopia 2024, including Zoom AI Companion 2.0 and a new custom add-on. Key features include:

1. Persistent side panel for seamless AI integration across Zoom Workplace
2. Expanded context understanding and advanced synthesis
3. Web connectivity for real-time information lookup
4. Action detection and completion across workloads

The custom add-on, launching in 2025 at $12/user/month, offers personalization, third-party app integration, and AI Studio for tailored experiences. Other announcements include Zoom Tasks, AI-enhanced Phone features, and industry-specific solutions for healthcare, education, and frontline workers.

Zoom Video Communications has launched Zoom Phone in India, starting with the Maharashtra Telecom Circle (Pune). This cloud phone solution, licensed by the Department of Telecommunications (DoT), offers native India phone numbers and will expand to other major technology centers. Zoom India received the Unified License with Access and Long Distance licenses in April 2023.

Zoom Phone provides local telephony services and integrates with Zoom Workplace, offering features like AI Companion capabilities for enhanced call productivity. The service is available as an add-on for existing paid Zoom customers and supports inbound and outbound calling through the public switched telephone network (PSTN).

This launch demonstrates Zoom's commitment to the Indian market and its ability to provide a compliant, reliable collaboration platform for multinational corporations and local businesses.

Zoom Video Communications (NASDAQ: ZM) has appointed Michelle Chang as its new Chief Financial Officer (CFO), effective October 7, 2024. Chang, with over 25 years of financial leadership experience, most recently served as Corporate Vice President and CFO of Microsoft's Commercial Sales & Partner Organization. She will report directly to Zoom's founder and CEO Eric S. Yuan, overseeing the company's financial strategy and leading the global finance organization.

Chang succeeds Kelly Steckelberg, who will continue in an advisory role until the announcement of Zoom's third fiscal quarter results ending October 31, 2024. The appointment aligns with Zoom's focus on driving innovation, growth, and value creation, particularly as the company advances its Zoom 2.0 vision and AI-first work platform strategy. Chang expressed excitement about joining Zoom and supporting its mission to deliver customer happiness through innovative workplace communications and collaboration solutions.

Zoom has unveiled new advanced enterprise offerings to enhance efficiency, reliability, security, and compliance for large organizations. The key additions include:

Zoom Compliance Manager Plus: Enhances risk detection, data loss protection, and advanced trends analysis.

Zoom Meeting Survivability: Ensures uninterrupted service during internet disruptions using Zoom Node.

Zoom Mesh for Meetings: Optimizes bandwidth usage, potentially saving up to 60% on internet costs.

Zoom Customer Managed Key (CMK) Hybrid: Allows customers to control the entire encryption/decryption process on premises.

These offerings aim to address challenges such as compliance penalties, security breaches, and network instability. They complement Zoom's existing enterprise portfolio, which covers communications compliance, data residency, policy management, security, analytics, and network optimization.

Zoom (NASDAQ: ZM) and Mitel have announced a strategic partnership to deliver a hybrid communications solution combining Zoom Workplace and Mitel's communications platform. The partnership aims to address enterprise demand for hybrid unified communications (UC) deployments, offering security and control alongside collaboration tools.

Key points:

• Zoom becomes Mitel's exclusive UCaaS offering within its UC portfolio
• Mitel's 70 million global end-users gain access to Zoom AI Companion, Meetings, and Team Chat
• Joint solution will be generally available in the first half of 2025
• Partnership targets growing demand for hybrid capabilities across on-premises and cloud models
• Zoom sales teams can sell Mitel's devices for hybrid customers requiring physical endpoints

Zoom announced that its AI Companion has received FedRAMP® JAB Authorization as a JAB Moderate system, expanding the Zoom for Government platform. This authorization follows the recent FedRAMP® JAB certification of Zoom Contact Center in June 2024. The expanded platform now offers a secure AI solution for U.S. federal agencies, state and local municipalities, and approved organizations supporting government missions.

Zoom for Government, initially FedRAMP authorized in March 2019, received collective JAB approval in July 2023. The platform now includes 15 JAB-authorized products, with Zoom Node coming soon. The secure all-in-one platform helps customers save time, reduce costs, and increase productivity while ensuring compliance with stringent U.S. federal government requirements.

Zoom Video Communications, Inc. (NASDAQ: ZM) has appointed Mike Fenger, vice president of Worldwide Sales at Apple, as an independent director on its Board of Directors, effective immediately. Fenger brings over 20 years of experience in building and leading global sales teams, having held senior positions at Apple, General Electric, and Motorola. His expertise spans product sales, telecommunications partnerships, and customer relations in enterprise, education, and government sectors.

Zoom's founder and CEO, Eric S. Yuan, expressed enthusiasm about Fenger's addition to the team, highlighting his global leadership experience and potential to contribute fresh perspectives and innovative ideas to drive Zoom's growth and success. Fenger, in turn, expressed excitement about joining Zoom's board and contributing to its future success.

Zoom Video Communications (NASDAQ: ZM) reported strong financial results for Q2 FY2025. Total revenue reached $1,162.5 million, up 2.1% year-over-year, with Enterprise revenue growing 3.5% to $682.8 million. The company demonstrated efficient growth with a 33.7% increase in operating cash flow to $449.3 million. GAAP operating margin was 17.4%, while non-GAAP operating margin stood at 39.2%.

Zoom saw strength in large accounts, with customers contributing over $100,000 in trailing 12-month revenue increasing by 7.1% year-over-year. The company's Online business showed resilience, achieving its lowest-ever average monthly churn rate of 2.9%. Zoom Contact Center secured several marquee customers, including its largest single order deal to date.

For Q3 FY2025, Zoom expects total revenue between $1.160-$1.165 billion and non-GAAP EPS of $1.29-$1.31. The full fiscal year 2025 guidance projects total revenue of $4.630-$4.640 billion and non-GAAP EPS of $5.29-$5.32.