The video conferencing platform, Zoom Video Communications Inc stated on Monday that it has renamed its chat product and is adding some new features too. The features include third-party integration. It seems to compete with competitors such as Microsoft Teams and Slack.
The new feature is known as Zoom Team Chat. This video calling app will include features like users being able to share in-meeting chat to Team Chat, and schedule a meeting from chat or channel. According to Zoom, the features will be introduced by the end of the month.
Particularly, Zoom has its rivalries with WeChat Work, Microsoft Teams, Cisco WebEx, and Slack. Zoom has to complete a difficult job of onboarding high-paying clients to withstand its growth at a time when many firms are moving to hybrid work.
Reportedly, the fiscal second-quarter results from Zoom Video Communications were the roughest yet for the video conferencing provider earlier this month. Revenue for the quarter ended. From year to year, July 31st rose only 8% to about $1.1 billion. This was about 2% under the midpoint of the company’s guidance range. It missed Wall’s Street consensus forecast for the first time since Zoom went public in 2019.
Zoom, the video conferencing app also accomplished the single-digital growth first instance for the company that took video conferencing to the home-destined masses; Over the earlier eight quarters, Zoom has averaged 176 percent year over year growth.
For the latest quarter, the revenue forecast of Zoom was also about four percent below analysts’ targets. Moreover, in January, the company cut down its last position for the full fiscal year ending. In the back half of the fiscal year, Zoom also referred to a combination of unfavorable exchange rates, weakness in its online business segment that serves consumers and small businesses, and a more typical pattern of closing sales deals for its enterprise side. Its shares went eight percent after-hours Monday.