Zoom stock dropped sharply after its latest results were released. The company exceeded market revenue expectations for the period. But its outlook for ahead disappointed investors. Large enterprise contracts drove revenue growth. More large customers signed up. Enterprise growth accelerated during the second quarter. Zoom additionally highlighted its stake in AI firm Anthropic to show its AI strategy.
The company added new products lately. Still, Zoom provided a weak financial outlook for upcoming periods. That poor forecast led to shares to fall after the announcement.