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In this article ZM Follow your favorite stocks CREATE FREE ACCOUNT Eric Yuan, founder and CEO of Zoom Video Communications, speaks at Concordia Annual Summit in New York on Sept. 25, 2024. Leigh Vogel | Concordia Summit | Getty Images Zoom shares were flat in extended trading on Monday after the video calling software maker announced strong fiscal third-quarter results and gave guidance in line with expectations. Here's how the company did in comparison with LSEG consensus: Earnings per share: $1.38 adjusted vs. $1.31 expected Revenue: $1.18 billion vs. $1.16 billion expected Zoom's revenue grew about 4% year over year in the quarter, which ended on Oct. 31, according to a statement . Zoom has increased revenue in the single digits for two and a half years, a sharp departure from 2020 and 2021, when Covid led the business to triple in size. Net income, at $207.1 million, or 66 cents per share, was up from $141.2 million, or 45 cents per share, in the same quarter a year earlier. The company reported 192,400 enterprise customers in the quarter, up 800 from the previous quarter. With respect to guidance, Zoom called for $1.29 to $1.30 in fiscal fourth-quarter adjusted earnings per share on $1.175 billion to $1.180 billion in revenue. Analysts surveyed by LSEG were expecting $1.29 per share and $1.17 billion in revenue. Zoom bumped up its view for the 2025 fiscal year. It expects $5.41 to $5.43 in adjusted earnings per share, with $4.656 billion to $4.661 billion in revenue. The middle of the revenue range implies about 3% growth. LSEG's consensus was $5.35 per share on revenue of $4.64 billion. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.630 billion and $4.640 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium Custom AI Companion that could connect to corporate glossaries and services such as ServiceNow and Workday . Zoom also started offering single-use webinar options, with room for up to 1 million attendees. As of Monday's close, Zoom stock was up about 24% this year, while the S&P 500 index had gained 25%. The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc. "This change reflects our evolution into an AI-first work platform for human connection and our vision for long-term growth," Zoom's founder and CEO, Eric Yuan, plans to say on a conference call with analysts, according to prepared remarks . Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET. This is breaking news. Please check back for updates. WATCH: Zoom deserves another look from investors despite its weak growth, says MAI Capital's Chris Grisanti watch now VIDEO 2:43 02:43 Zoom deserves another look from investors despite its weak growth, says MAI Capital's Chris Grisanti Power LunchNone
ALBANY, N.Y. , Nov. 25, 2024 /PRNewswire/ -- Aspiring entrepreneurs nationwide now have a unique opportunity to gain recognition and support for their innovative ideas through the Tina Wellman Scholarship for Entrepreneurs. This prestigious scholarship, founded by Tina Wellman , a renowned leader in healthcare, biotech, and business innovation, provides a one-time award of $1,000 to undergraduate students dedicated to pursuing entrepreneurial excellence. The Tina Wellman Scholarship for Entrepreneurs invites applications from undergraduate students enrolled at accredited colleges or universities who are pursuing degrees in fields aligned with entrepreneurial ambitions, such as business, marketing, or technology. Scholarship Amount and Application Deadline The Tina Wellman Scholarship for Entrepreneurs offers a one-time award of $1,000 . The deadline for applications is August 15, 2025 , with the winner being announced on September 15, 2025 . About Tina Wellman Tina Wellman 's illustrious career spans over two decades in healthcare, biotech, and business innovation. As the former CEO and owner of BrightDrive HCS LLC, Tina Wellman grew a fledgling startup into a $5 million enterprise with a team of over 200 employees operating across the United States and India . As owner of Consulting at Hand PIQ Consulting she brings her expertise in revenue cycle management, clinical operations, and emerging technologies to help businesses achieve sustainable growth. A Legacy of Innovation and Mentorship Tina Wellman 's dedication to inspiring the next generation of entrepreneurs is at the heart of this scholarship. Her global business experience, transformational leadership, and commitment to fostering innovation make the Tina Wellman Scholarship for Entrepreneurs a testament to her enduring vision. By creating this scholarship, Tina Wellman seeks to provide aspiring entrepreneurs with the resources and recognition necessary to transform their ideas into impactful ventures. Students awarded the scholarship will join a growing community of future business leaders inspired by Tina Wellman's entrepreneurial legacy. Application and Additional Information Students interested in applying for the Tina Wellman Scholarship for Entrepreneurs can visit https://tinawellmanscholarship.com for detailed application guidelines and submission instructions. About the Tina Wellman Scholarship for Entrepreneurs The Tina Wellman Scholarship for Entrepreneurs exemplifies Tina Wellman's enduring commitment to fostering innovation, critical thinking, and strategic execution among the next generation of business leaders. This initiative reflects her passion for guiding aspiring entrepreneurs toward achieving excellence while addressing real-world challenges with groundbreaking ideas. SOURCE Tina Wellman Scholarship
NoneTo the editor: Columnist Mark Z. Barabak dispenses pablum from people with critiques of Democratic messaging in 2024. (“ She’s won twice in Trump country. What can this Democrat teach her party? ” column, Nov. 19) Washington state’s Democratic Rep. Marie Gluesenkamp Perez told Barabak, “It’s the wrong idea to take away from this that I’ve got some 10-point plan.” But the next piece of advice from Gluesenkamp Perez, as summarized by Barabak, is incoherent: “Perhaps above all, run more candidates who’ve gotten dirt under their fingernails.” She says, “The track record of success is not whether you went to an Ivy League institution.” This analysis ignores the non-Ivy League presidential candidate with french-fry grease on her hands who ran against a University of Pennsylvania alumnus with bone spurs during the Vietnam War. Barabak would do well to remember that Harris would be the president-elect if 237,000 swing-state voters had not chosen Trump, Jill Stein or Robert F. Kennedy Jr. Among the 7 million voters in Pennsylvania, Harris lost by only 1.7 percentage points. Based on the actual results, I’d say the Democrats’ messaging needs minor tweaking, not wholesale revision. Kathi Smith, Ojai .. To the editor: In writing about Gluesenkamp Perez’s victory in Washington’s 3rd Congressional District, Barabak missed something. While receiving more votes county-by-county (there are seven in her congressional district) than Vice President Kamala Harris, she decisively lost the five “rural” counties, including Skamania County, where she resides. The only county she won by a wide margin was Clark County, the only truly urban county in her district, and only a bridge away from Portland, Ore. The election result clearly demonstrated that Gluesenkamp Perez’s political fortunes don’t lie in the rural counties of the 3rd District, but in Vancouver, Wash. An economics graduate of the elite Reed College, she certainly knows this. Gluesenkamp Perez’s cowboy boots schtick likely will have to be abandoned sooner rather than later. I happen to like a lot of what she says she stands for and gave her my vote. John McDonald, Vancouver, Wash.BUCHAREST, Romania -- A top Romanian court on Friday annulled the first round of the country's presidential election, days after allegations emerged that Russia ran a coordinated online campaign to promote the far-right outsider who won the first round. The Constitutional Court’s unprecedented decision — which is final — came after President Klaus Iohannis declassified intelligence on Wednesday that alleged Russia organized thousands of social media accounts to promote Calin Georgescu across platforms such as TikTok and Telegram. The court, without naming Georgescu, said that one of the 13 candidates in the Nov. 24 first round had improperly received “preferential treatment” on social media, distorting the outcome of the vote. Georgescu denounced the verdict as an “officialized coup” and an attack on democracy, as did the second-place finisher, reformist Elena Lasconi of the center-right Save Romania Union party. Despite being an outsider who declared zero campaign spending, Georgescu emerged as the frontrunner who was to face Lasconi in a runoff on Sunday. Some 951 voting stations had already opened abroad on Friday for the runoff for Romania’s large diaspora, but had to be halted. Iohannis said he would remain in office until a new presidential election could be rerun from scratch. On Dec. 1, one week after the first round of the presidential race, Romania also held a parliamentary election , which saw pro-Western parties win the most votes but also gains for far-right nationalists. Iohannis said that once the new government is formed, the date of the new presidential vote would be set. On Wednesday the president had released intelligence files from the Romanian Intelligence Service, the Foreign Intelligence Service, the Special Telecommunication Service and the Ministry of Internal Affairs. In a televised statement Friday, Iohannis said he was “deeply concerned” by the contents of the intelligence reports. “Intelligence reports revealed that this candidate’s campaign was supported by a foreign state with interests contrary to Romania’s. These are serious issues," he said. The Constitutional Court in its published decision cited the illegal use of digital technologies including artificial intelligence, as well as the use of “undeclared sources of funding.” It said one candidate received “preferential treatment on social media platforms, which resulted in the distortion of voters’ expressed will." Georgescu slammed the verdict as putting “democracy is under attack.” “I have only one pact ... with the Romanian people and God,” he said in a video statement. “We are no longer talking about fairness but rather about a mockery that betrays the principles of democracy ... It is time to show that we are a courageous people who know that the destiny and rights of the Romanian nation are in our hands.” Lasconi also strongly condemned the court's decision, saying it was “illegal, immoral, and crushes the very essence of democracy" and that the second round should have gone forward. “Whether we like it or not, from a legal and legitimate standpoint, 9 million Romanian citizens, both in the country and the diaspora, expressed their preference for a particular candidate through their votes," she said. “I know I would have won. And I will win because the Romanian people know I will fight for them, that I will unite them for a better Romania,” she added. Some 9.4 million people — about 52.5% of eligible voters — had cast ballots in the first round in this European Union and NATO member country. The president serves a five-year term and has significant decision-making powers in national security, foreign policy and judicial appointments. Most surveys had predicted the top candidate would be Prime Minister Marcel Ciolacu of the ruling center-left Social Democrats. They indicated that second place would be claimed by either Lasconi or the leader of the far-right Alliance for the Unity of Romanians, George Simion. As the surprising results came in with Georgescu on top, and Lasconi narrowly beating Ciolacu, it plunged the political establishment into turmoil. The same court last week ordered a recount of the first-round votes, which added to the myriad controversies that have engulfed a chaotic election cycle. Following a recount, the court then validated the first-round results on Monday. Many observers have expressed concerns that annulling the vote could trigger civil unrest. The court said Friday that its decision was meant “to restore citizens’ trust in the democratic legitimacy of public authorities, in the legality and fairness of elections.” Simion, of the far-right party, said the development was a “coup d’état in full swing” but urged people not to take to the streets. “We don’t let ourselves be provoked, this system has to fall democratically,” he said. Cristian Andrei, a political consultant based in Bucharest, said the court's decision amounts to a “crisis mode situation for Romanian democracy.” “In light of the information about the external interference, the massive interference in elections, I think this was not normal but predictable, because it’s not normal times at all, Romania is an uncharted territory,” he told The Associated Press. “The problem is here, do we have the institutions to manage such an interference in the future?” Georgescu’s surprising success left many political observers wondering how most local surveys were so far off, putting him behind at least five other candidates before the vote. Many observers attributed his success to his TikTok account, which now has 6 million likes and 541,000 followers. But some experts suspected Georgescu’s online following was artificially inflated while Romania’s top security body alleged he was given preferential treatment by TikTok over other candidates. In the intelligence release, the secret services alleged that one TikTok user paid more $381,000 (361,000 euros) to other users to promote Georgescu content. Intelligence authorities said information they obtained “revealed an aggressive promotion campaign” to increase and accelerate his popularity. Georgescu, when asked by the AP in an interview Wednesday whether he believes the Chinese-owned TikTok poses a threat to democracy, defended social media platforms. “The most important existing function for promoting free speech and freedom of expression is social media,” he said.
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