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Today's big stories

Zoom gave a picture-perfect update, with better-than-expected quarterly results
Here’s why you might want to rethink your ETF investments – Read Now
India took its foot off the gas last quarter

Zooming Ahead

What’s Going On Here?

Zoom charmed investors this week with expectation-beating quarterly results.

What Does This Mean?

The Covid era was a nightmare for most of us, but for Zoom it was the goose that laid the golden egg. And while the firm’s had to navigate some choppy waters since then, it's adapting well, slimming both its staff and its spending. The company's also been adding non-video services to its lineup – like contact center features and so-called “internet phone” – in a bid to keep big clients happy. Looks like it's working: Zoom’s business customer count was up 12% last quarter and the number of firms paying over $100,000 grew by 27%, which helped push revenue and profit past expectations. What’s more, Zoom’s bright profit outlook and talk of upcoming artificial intelligence (AI) products – like transcription, translation, and sales intelligence tools – had investors beaming, and they sent shares up 8%.

Why Should I Care?

Zooming in: Playing catch up.
Hitching a ride on the AI express isn't really a forward-looking move these days: it's almost an essential one. Analysts predict that AI will be the biggest driver of near-term growth in the tech industry – a bet that makes sense with the economy looking so pale-faced. And given that Microsoft's already jumped on board, working ChatGPT into its Teams Premium package, Zoom needs to act fast – or risk eating competitors’ dust.

The bigger picture: Home free.
It seemed like the end was nigh for Zoom when the world stepped out of quarantine – but these results are another reminder that the firm’s got life in it yet. After all, cost-cutting companies and workers alike favor hybrid workplaces, meaning commercial property owners are the real losers: US office vacancies are predicted to hit a record 1.1 billion square feet by 2030.

You might also like: How you can work out what Zoom’s stock is worth right now.

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Analyst Take

That ETF You’re Using Might Not Be All It’s Cracked Up To Be

By Russell Burns, Analyst

ETFs may be popular, but they’re far from perfect.

In fact, buying government or corporate bonds directly can often give you advantages that ETFs just can’t provide.

With so many people looking to diversify their portfolios by adding a splash of bonds, it seems like a good time to take a look at the best ways to do that.

That’s today’s Insight: how to invest in bonds – and why you might want to avoid certain bond ETFs.

Read or listen to the Insight here

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