Zoom Communications, a San Jose-based video-conferencing software company, said on Aug. 25 that its third-quarter adjusted profit would fall below Wall Street estimates, as competition from Microsoft Teams and Google Meet pressures its business even as it adds AI features.

Zoom forecast third-quarter revenue of US$1.275 billion to US$1.28 billion and adjusted earnings of US$1.46 to US$1.48 a share, compared with London Stock Exchange Group (LSEG) estimates of US$1.28 billion and US$1.50. Zoom shares fell 3.8% in extended trading.

The company also reported second-quarter revenue of US$1.28 billion and adjusted earnings of US$1.55 a share, above LSEG estimates of US$1.27 billion and US$1.48.

Zoom has been introducing AI tools including AI Companion, a meeting receptionist assistant, and enterprise-focused features under Zoom AI Services.

Teams and Meet are often included in Microsoft 365 and Google Workspace subscriptions, while some of Zoom’s AI offerings are priced separately.

🔗 Source: Reuters

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