Zoom stock dropped sharply after its latest results were released. The company beat market revenue expectations for the quarter. But its outlook for ahead disappointed investors. Large enterprise contracts powered revenue growth. Additional large customers signed up. Enterprise growth sped up during the second quarter. Zoom additionally highlighted its stake in AI firm Anthropic to show its AI plan.
The company launched new products recently. Still, Zoom gave a weak financial outlook for future periods. That poor forecast caused shares to decline after the report.