Zoom’s shares dropped 4% in after-hours trading on Monday after the company released its fiscal third-quarter results.

The company reported adjusted earnings per share of US$1.38, exceeding the US$1.31 expected by analysts surveyed by LSEG.

Revenue reached US$1.18 billion, slightly above the US$1.16 billion forecast.

This represents a 4% increase year-on-year, maintaining single-digit growth following the pandemic-related surge.

The company plans to launch a premium Custom AI Companion in early 2025, designed to integrate with services like Workday and ServiceNow.

Zoom will also change its corporate name to Zoom Communications Inc., reflecting a shift toward an AI-focused strategy.

Recent Zoom developments