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Search resuls for: "Zoom's"


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☆ Zoom invests in AI startup Anthropic in latest effort to spruce up offerings
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +1 min
May 16 (Reuters) - Zoom Video Communications Inc (ZM.O) said on Tuesday it has invested an undisclosed sum in Anthropic and will integrate the artificial intelligence start-up's technology into its video-conferencing platform. The move marks the latest effort by Zoom to spruce up its offerings with AI as it competes against Microsoft Teams, the dominant video-conferencing tool for enterprises. Under the collaboration, Anthropic's Claude - a large language model that competes directly with offerings from Microsoft-backed OpenAI - will be integrated with Zoom's platform. In March, Zoom had announced a partnership with OpenAI to add AI-driven capabilities such as conversation summaries and message drafts to its Zoom IQ assistant. Reporting by Akshita Toshniwal in Bengaluru and Krystal Hu; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Moderna's billionaire CEO draws criticism for earning nearly $400 million in stock options last year, and then getting a raise on top of it
  + stars: | 2023-04-29 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
French businessman Stéphane Bancel made $393 million in stock options in 2022, according to securities filings. Bancel, 50, also owns stocks valued around at least $2.8 billion, and received a 50% raise from 2021 to 2022. Moderna's chief executive officer Stéphane Bancel raked in about $393 million in 2022 thanks to stock options, and then received a raise on top of it — compensation that's giving some analysts pause. In addition to exercising his stock options in 2022, 50-year-old Bancel earned a $1.5 million salary — a 50% jump from 2021, according to securities filings from March. Meanwhile, Amazon CEO Andy Jassy's pay dropped from $212 million in 2021 to $1.3 million in 2022 due to receiving any stock awards.
☆ Zoom fires its president, a former Google employee, after only 10 months
  + stars: | 2023-03-03 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +2 min
Zoom has fired its president, Greg Tomb, just 10 months after he joined. Before his stint at Zoom, Tomb worked as Google's vice president of sales. Zoom said in a filing with the Securities and Exchange Commission (SEC) that Tomb's termination was effective as of Friday. Tomb's LinkedIn profile shows he joined Zoom as president in June 2022. Tomb's termination comes after Zoom announced in early February it was laying off about 1,300 employees — 15% of its workforce.
☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Target, Advance Auto Parts and more
  + stars: | 2023-02-28 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Hims & Hers Health — Shares of the telehealth stock soared by 17% after the company reported quarterly results that surpassed estimates. However, Target's full-year earnings guidance came in below expectations. Zoom's full-year revenue guidance came in lighter than expected, but topped estimates on its earnings guidance for 2023. Norwegian Cruise Line Holdings — The cruise company fell 12% after reporting a wider-than-expected loss for the fourth quarter. Analysts surveyed by Refinitiv had forecast an 85 cents per share loss on revenue of $1.5 billion.
☆ Zoom jumps on AI bandwagon, forecasts upbeat 2024 profit targets
  + stars: | 2023-02-27 | by ( Tiyashi Datta | ) www.reuters.com   time to read: +2 min
Analysts predict the AI tech will be a major driver for future growth for the tech industry, which has been grappling with slowing demand amid recessionary fears. San Jose, California-based Zoom forecast fiscal 2024 profit between $4.11 and $4.18 per share, compared with analysts' average estimate of $3.66 per share, according to Refinitiv data. On an adjusted basis, Zoom earned $1.22 per share for the fourth quarter ended Jan. 31, compared with estimates of 81 cents per share. Revenue grew 4% to $1.12 billion, above analysts' average expectation of $1.10 billion. The company, however, expects 2024 revenue between $4.44 billion and $4.46 billion, below average Street estimate of $4.60 billion.
☆ It's 'hard to get excited' by Zoom Video even after earnings beat, 'Fast Money' traders say
  + stars: | 2023-02-27 | by ( Jesse Pound | ) www.cnbc.com   time to read: +2 min
Zoom Video has lost the momentum it had during the work-from-home boom, and a strong earnings report did little to change that, according to traders on CNBC's " Fast Money ." The company on Monday reported adjusted earnings of $1.22 per share and $1.12 billion in revenue for the fourth quarter. The stock soared above $500 per share in 2020 as the use of video conferencing soared, but Zoom has since given back all of those gains. Guy Adami of Private Advisor Group called Zoom a "fine company" but cautioned that its use of stock-based compensation could hurt shareholders. That metric, which Zoom Video excludes from its adjusted earnings number, was a roughly $520 million expense during the fourth quarter, and can cause dilution for shareholders.
☆ Zoom shares jump on better-than-expected fourth-quarter results
  + stars: | 2023-02-27 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
Zoom shares climbed almost 7% in extended trading on Monday after the video chat company reported fiscal fourth-quarter results that exceeded analysts' estimates and offered optimistic earnings guidance for the year. Here's how the company did:Earnings: $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. $1.22 per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Zoom sees between $4.435 billion to $4.455 billion in revenue, implying 1.1% growth, while analysts were expecting sales of $4.6 billion. During the fiscal fourth quarter, Zoom said it would introduce email and calendar services, along with a virtual agent chatbot for handling customer service inquiries.
☆ Zoom's CEO will take a $10,000 salary this year, a 98% pay cut, after laying off 1,300 workers because of 'mistakes' he made growing the company
  + stars: | 2023-02-08 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
Zoom CEO Eric Yuan is taking a pay cut of 98%, and will earn just $10,000 in salary this year. This would bring Yuan's salary down to $10,000, Zoom wrote in a regulatory filing. Yuan wrote in the email that other members of the executive leadership team would reduce their base salaries by 20% in the coming year and forfeit their corporate bonuses. "Within 24 months, Zoom grew 3x in size to manage this demand while enabling continued innovation," Yuan wrote. Zoom said in its filing that the layoffs and resultant restructuring would cost it between $50 million and $68 million.
☆ Brian Sullivan's RBI: Has Zoom reached the end of its pandemic boom?
  + stars: | 2023-02-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrian Sullivan's RBI: Has Zoom reached the end of its pandemic boom? Brian Sullivan's daily RBI segment dives into the outlook for Zoom's stock.
☆ Zoom to shed about 1,300 jobs as pandemic-fueled demand slows
  + stars: | 2023-02-07 | by ( ) www.reuters.com   time to read: +2 min
Feb 7 (Reuters) - Zoom Video Communications (ZM.O) said on Tuesday it would cut 15% of its workforce, or about 1,300 jobs, and trim base pay for its executive leadership as pandemic-fueled demand for the company's video conferencing services slows. Announcing the layoffs, Chief Executive Eric Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus. Zoom had bumped up hiring during the pandemic to meet surging demand, but now joins U.S. companies is reining in costs to brace for a potential recession. The video conferencing software maker also said that its executive leadership team will reduce their base salary by 20% in the same period. Departing employees will receive 16 weeks of salary, healthcare coverage and annual bonus for the year, Yuan added.
☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
  + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
  + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
☆ Tech kept talent happy doling out stock during the boom. It's screwing investors in the bust.
  + stars: | 2022-12-01 | by ( Asia Martin | ) www.businessinsider.com   time to read: +5 min
As tech stock prices plunge, firms are granting new stocks to staff to keep compensation high. But as stock values tumble in the second half of 2022, investors are looking at the increase in stock-based compensation (SBC) as an issue. And tech companies have been issuing a lot of shares to not only attract new employees but hang on to their existing ones. Peloton granted more than 4 million stock options and 1.7 million RSUs in its fiscal year that ended in June 2021. "The drop in the stock price makes the expense, for lack of a better way to phrase it, a lot more expensive," he added.
☆ Stocks making the biggest moves midday: Abercrombie & Fitch, Disney, Best Buy, Zoom and more
  + stars: | 2022-11-22 | by ( Alex Harring | ) www.cnbc.com   time to read: +5 min
Abercrombie & Fitch – Shares of the retail stock jumped 19% after the apparel retailer beat Wall Street's revenue forecasts for the third quarter and posted unexpected quarterly profit. Deutsche Bank reiterated the stock as buy and said it doesn't see any meaningful changes coming to its direct-to-consumer strategy. Best Buy – Best Buy's stock surged 11% after the consumer electronics retailer beat Wall Street's estimates and maintained its outlook for the holiday period. Demand remains below its pandemic heights, but Best Buy indicated its faring well even as inflation weighs on consumers' pockets. The stock slipped even after the company beat top and bottom line estimates for its latest quarter and better-than-expected comparable store sales.
☆ Zoom shares drop on light forecast as company faces 'heightened deal scrutiny'
  + stars: | 2022-11-21 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Zoom shares slumped more than 7% in extended trading on Monday after the video-chat company issued weaker-than-expected revenue guidance for its full fiscal year. Here's how the company did:Earnings: $1.07 per share, adjusted, vs. 84 cents per share as expected by analysts, according to Refinitiv. Revenue: $1.10 billion, vs. $1.10 billion as expected by analysts, according to Refinitiv. The company is seeing "heightened deal scrutiny for new business," CEO Eric Yuan said during the earnings call. Zoom lowered revenue guidance, mainly because of the strengthening U.S. dollar.
☆ Saga of Wall Street's pandemic darlings ends with tears
  + stars: | 2022-10-12 | by ( Sinéad Carew | ) www.reuters.com   time to read: +5 min
Its problems put a spotlight on other pandemic hot-shots like Zoom Video Communications (ZM.O), Nautilus Inc (NLS.N), DocuSign Inc (DOCU.O) and DoorDash Inc (DASH.N). Register now for FREE unlimited access to Reuters.com RegisterGrowth investors pushed Peloton stock to a $171.09 record in early 2021. Others bought exercize gear from Nautilus during the pandemic, sending its stock up to $31.30 in early 2021. So, while people might still be using the Peloton, not enough people are buying the Peloton," said Forrest. While one possible outcome for pandemic favorites with slowing growth could be a buyout by a larger company, Schleif is wary of making this bet.
☆ HR insiders share 4 ways remote workers can set themselves up for a strong performance review
  + stars: | 2022-10-05 | by ( Ebony Flake | ) www.businessinsider.com   time to read: +6 min
Performance reviews are around the corner, but is it harder to evaluate fully remote workers? Managers are tasked with measuring the productivity of in-person, hybrid, and remote workers. There are differing views on whether remote workers should be concerned with how their performance is measured. Focus on performance metricsYolanda Seals-Coffield, the chief people officer at PricewaterhouseCoopers, says remote workers have nothing to fear. Maintain professional decorumWorking from home can create a certain informality among teams, but Pyrzenski says remote workers shouldn't get too comfortable.
Persons: Chelsea Pyrzenski, Yolanda Seals, Pyrzenski, Celia Balson, Robert Kelley, Kelley, Slack Organizations: PricewaterhouseCoopers, Google, Carnegie Mellon University's Tepper School of Business
☆ How Zoom's chief people officer handled unprecedented growth during the pandemic
  + stars: | 2021-05-11 | by ( Aman Kidwai | ) www.businessinsider.com   time to read: +4 min
Oldham brought in a new chief diversity officer who helped reshape the company's equity efforts. Over the past year, Zoom added new leadership in cybersecurity, engineering and product, and a chief diversity officer. These workers were tasked with handling the initial bursts of demand, as well as a sharp shift to remote work. YouTubeFor newer employees, Oldham put a heavy emphasis on their digital onboarding program. Zoom announced the hiring of chief diversity officer Damien Hooper-Campbell in late May 2020.
☆ A lack of transparency creates a 'breeding ground of insecurity,' according to one tech CEO
  + stars: | 2021-03-15 | by ( May Teng | ) www.businessinsider.com   time to read: +6 min
TVSquared CEO Calum Smeaton has centered his leadership around transparency, and it's paid off. It's crucial to communicate often and maintain transparency even as a company grows, Smeaton says. Calum Smeaton, founder and CEO of UK-based adtech company TVSquared, is one of many leaders who has decided to squarely center their paradigm on transparency. "If you're not transparent, that's where you create a breeding ground for insecurity." "Transparency is really easy when you're 10 or 15 people all in the same office," Smeaton added.
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