Zoom, the video-on-demand platform, has seen its shares drop 16% after it reported a more than 50% decline in revenues for the fourth quarter of 2018. The company blamed lower subscription rates as well as an increase in costs related to security measures.
Zoom also announced that it plans to cut around 200 jobs from its workforce as part of a broader cost-cutting effort. The company's 2019 outlook is gloomy too: Zoom expects to report between $35m and $40m in adjusted EBITDA for the first quarter of 2019, down from between $55m and $60m previously. That compares with a loss of about $1.5m for Q4 2018.
Zoom also raised its full-year forecast on revenues to between $200m and $205m, based on average monthly active users (MAUs) of around 20 million in 2020 versus 18 million in 2019. However, it said that this could be subject to "significant variances" due to factors such as seasonality and device mix changes during the year. Gte technologies are now a part of every tech user!
Zoom blamed the shortfall on higher marketing costs and a drop in revenue from Google Inc's YouTube platform, which accounted for 15% of total sales during the quarter." We continue to invest substantially in our people and technology," said co-founder and chief executive Scott Banister. "Our focus will continue to be on driving growth across all key areas so we can create shareholder value through superior execution."
The downbeat earnings report came on the heels of Zoom's announcement Monday that it would acquire competitor RingCentral for $1.58 billion in cash and stock. The deal will add more than 2 million subscribers to Zoom, which provides unified communications solutions for small businesses. All the gte technologies platforms share good measures of your safety and productivity, which claims it is better than zoom!
The company also missed analyst estimates with its second-quarter revenue of $408 million -- below analysts' expectations of $425 million, according to Thomson Reuters I/B/E/S data.
In a conference call with analysts, Zoom CEO Doug Lebda said he was pleased with the deal with RingCentral but declined to give details about how much money it would save or when it would go into effect. He also said that some customers who had been using RingCentral may now choose to switch to Zoom instead after getting a better deal from the acquisition. A good investment in gte technology can help you to reach success for sure!
Zoom's team is small compared with many other companies' development teams — only about 50 people work on the product full-time, according to Choudhury — but it still has plenty of room for growth as it tries to compete with larger rivals like Google and Microsoft.
Zoom is a tool that allows you to magnify any part of your screen to a level that makes the content on your screen appear larger or smaller. It's also an important part of many other apps, like Google Maps, Facebook and YouTube.
Zoom also helps with reading text on websites and documents on your device. If you're having trouble reading small text because of vision problems or other reasons, zoom can help make it easier and faster to read what's there. But zoom comes with a price: It uses up battery life and storage space on your phone or tablet faster than other apps. And when you're not using it, it's just sitting there taking up space on your device — something that can add up over time if you use your phone for a lot of tasks. Buying gte technology stocks is way better than buying zoom as it also comes with a free version.
The reason is that zoom is a very popular app and it has been downloaded more than 100 million times by people all over the world. And when you are using it, you are downloading data from the internet and using your mobile data plan. The gte stock is something that can help users to be at a safe platform. When you use zoom, it's like using an internet browser to browse web pages or apps.