Zoom steps up its game

Zoom steps up its game

Zoom is taking steps to establish its supremacy over communication platforms.

As the perspective of work from home becomes a reality, tech companies are doing their best to provide features meant to improve the user's experience.

Zoom, one of this year’s surprises when it comes to technology, released a videoconferencing system made from three wide-angle cameras and eight microphones, in sync with the user's calendar feature. The system is called Zoom for Home will be available in the United States starting August. This new launch comes just days after another one – Hardware as a Service (HaaS). HaaS is designed to make Zoom Rooms and Zoom Phones more reachable, minimizing friction when it comes to hardware procurement.

According to analysts, Zoom could benefit from the work from the home sector and unique use cases that gained some ground since the pandemic started, such as cooking demos and fitness classes. Given Zoom's duality of being used for work and personal activities, it can stand out from its competitors: Microsoft’s Teams, and Apple’s Facetime.

In the past quarter, Zoom reported a 169% increase in revenue, more than double from the first quarter's 78%. This year's guidance is up to $1.8 billion. As far as the stock price is concerned. Overall it increased by more than 250%. Wall Street expects a second-quarter revenue of $488 million.

Despite people's excitement, the market doesn't agree, and currently, Zoom is trading lower by 0.70%.

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Sources: thestreet.com, globenewswire.com


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