Zoom Shares Fall on Weak Profit Forecast
Zoom forecast third quarter profit below Wall Street expectations as the video conferencing company faces intense competition from major rivals. Despite rolling out new artificial intelligence tools, shares dropped in extended trading.
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ZOOM COMMUNICATIONS INC forecast third-quarter profit below Wall Street expectations during Tuesday evening trading, projecting adjusted earnings between $1.46 and $1.48 per share. The outlook trails the average analyst estimate of $1.50 per share compiled by LSEG. The lower forecast highlights persistent competitive pressures in the video-conferencing market.
