Zoom Video Communications said on Tuesday it would cut about 1,300 jobs, as demand for the company’s video conferencing services slows with the waning of the pandemic, and take a related charge of up to $68 million. The company’s shares, which fell 63% last year amid a rout in technology shares, closed up 9.9% on the news but were down marginally in extended trading.
We streamed, we Zoomed, we ordered groceries and houseplants online, we created virtual villages while navigating laptop shortages to work and learn from home. In many ways, 2020′s pandemic-induced isolation […]
The shares rose 40.8% to $458.08, pushing Zoom’s market value to more than $129 billion, after it reported explosive growth during the second quarter as more people paid for subscriptions, giving them more control over virtual meetings. Zoom’s revenue more than quadrupled from the same time last year to $663.5 million and profits blew past Wall Street forecasts.
Broadcasters won’t be hampered by remote working conditions for election night 2020, and they have a bevy of new graphics and augmented reality tools to help them tell the story. Above, Broadcasters can make complex data easy for viewers to grasp through augmented reality objects generated by Brainstorm graphics using real-time data from different sources. A Punt, a regional channel in Spain, covered municipal elections, and this interactive map shows the winning party in each town, with detailed results for the seats won in each town are shown on the chart of the left side. The bars on the bottom show a rundown of all the cities, in alphabetical order, with the results in real time.
Federal Trade Commission Chairman Joseph Simons indicated on Monday that the agency was looking at privacy complaints regarding Zoom Video Communications Inc. In a teleconference with lawmakers, Simons made reference to concerns that Rep. Jerry McNerney of California had about Zoom. While not addressing the question of Zoom directly, Simons said the agency takes its complaints seriously.
Exclusives
Alphabet Inc.’s Google on Wednesday said any user will soon be able to host free video conferences on Meet, turning its previously business-only tool into a bigger rival to Zoom and others battling for users during the coronavirus outbreak.
Facebook, Google and other behemoths are training their sights on Silicon Valley’s company of the moment. Over the past month, downloads of Zoom have increased 740%, according to App Annie, an analytics firm. Zoom has said it now has more than 300 million daily participants, up from 10 million before the pandemic.
As the videoconferencing platform’s popularity has surged, Zoom has scrambled to address a series of data privacy and security problems.
