Zoom jumps on earnings, raises full-year revenue outlook

Shares of Zoom Video Communications (ZM) jumped after posting better-than-expected second quarter results and raising its full-year revenue outlook. The company also announced CFO Kelly Steckelberg will leave at the end of Q3.

Morning Brief anchors Brad Smith and Seana Smith recap Zoom's results in the video above.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Stephanie Mikulich.

Video Transcript

Also tracking a zoom here this morning.

Zoom video it is.

Shares are moving higher after the company raised its full year revenue outlook thanks to strong demand for its A I powered tools shares right now are up by about 2.8% Pre market After reporting this earnings report, uh, or this earnings release rather Yeah, I. I think the take away, at least for me, is what they're seeing.

The traction within their business clients we know business customers has certainly been a priority with Zoom as they try to regain some of that momentum that they lost from the peak of the pandemic.

So when you take a look at this, they are actually gaining their They're about the fact that they have rolled out our plan to, uh, announce more tools which include that phone systems, the contact centres.

A I assistant zoom had 100 and 91,000 just over enterprise customers, including just under 4000 contributing more than $100,000.

So again, that does mark some progress within Zoom's business and is viewed as a positive catalyst here for the stock going forward and now just very quickly their CFO is stepping down as well at the end of October.

And they're saying that they are, uh, under way here in terms of a a search for a successor.

So again, a change there in the C suite, something to note with Zoom.