Zoom stock dropped sharply after its latest results came out. The company beat market sales targets for the period. But its outlook for ahead failed to impress investors. Large enterprise contracts drove revenue growth. Additional large customers joined the platform. Enterprise growth accelerated during the second quarter. Zoom also discussed its stake in AI firm Anthropic to show its AI strategy.
The company launched new products recently. Still, Zoom provided a weak financial outlook for future periods. That soft guidance led to shares to decline after the announcement.