|Day's Range||9.50 - 9.50|
Zoom Video Communications (ZM) announces first-of-its-kind partnership with Major League Baseball (MLB).
Shares of Zoom Video Communications (NASDAQ: ZM) and Okta (NASDAQ: OKTA) have both underperformed the market in the past year, but for very different reasons. Zoom is struggling to boost sales following the pandemic spike, yet remains highly profitable. Okta, on the other hand, is growing quickly but losing money.
During its fiscal 2023 (which ended in January), Zoom Video Communications (NASDAQ: ZM) generated record revenue of about $4.4 billion. Zoom's largest operating expense is sales and marketing, which makes it the biggest opportunity for cost-cutting. At this point, Zoom is primarily an enterprise-software company.