Zoom forecasts quarterly profit below estimates

Aug 25 : Zoom Communications forecast third-quarter profit below Wall Street expectations on Tuesday, signaling stiff competition was squeezing the video-conferencing company even as it ramps up AI features on its services. Shares of the San Jose, California-based company fell 3.8 per cent in extended trading.Here are more details:• Zoom has been rolling out AI tools, including an AI Companion assistant, a meeting receptionist assistant and its suite of enterprise-focused AI features under "Zoom AI Services" to attract more customers. • But the company has been facing stiff competition from rivals such as Microsoft's Teams and Alphabet's Google Meet.• Zoom forecast third-quarter revenue in the range of $1.275 billion to $1.28 billion, compared with analysts' average estimate of $1.28 billi