Zoom Raises Forecast as AI Features Broaden Its Meetings Business

Zoom raised its full-year forecast for both adjusted earnings and revenue, and the shares jumped. Bloomberg’s on-screen chart showed Zoom trading at 108.09, up 11.34 points, or 11.72% intraday, under graphics reading “Zoom jumps most in six months” and “Zoom sales forecast tops estimates.” The source description also noted that the results prompted an upgrade at KeyBanc and higher price targets at RBC and Baird.

For Michelle Chang, the quarter was not a temporary beat but another data point in a repositioning that Zoom has been working through “over the last several quarters.” Her answer centered on three claims: Zoom is no longer only a meetings company, AI is beginning to monetize, and growth is inflecting while the company remains profitable.

Chang treated the stock reaction as a response to that longer shift. The earnings report, in her framing, showed both investor-relevant growth and “great profitability.”

That distinction matters because the competitive problem is not hypothetical. Ed Ludlow put it plainly: a meeting invite may come through Zoom, WebEx, or a tool from a larger technology company. There is “a world where there are options” and a world where people are not using Zoom.

Chang’s answer was that Zoom’s pitch has changed. A few years ago, she said, the argument was “best quality”: reliability, meeting performance, and innovation when a meeting could not afford to fail. She did not abandon that position, but said Zoom is now trying to sell something broader — what she called a “system of action.”

Chang described Zoom’s “system of action” as a product direction built around context: what Zoom can see inside an organization, what it can see outside the organization through areas such as customer experience, and what happens when AI is stitched between those contexts. In that framing, the meeting itself is no longer the whole unit of value. The 30- or 60-minute human-to-human connection, she said, “will always endure in an AI world,” but Zoom is trying to address the broader lifecycle of how work gets done around that interaction — from summaries and personal notes to moving conversations “to completion.”

That is why Chang emphasized “real tangible AI value” rather than AI as a general product theme. Ludlow pointed to a usage signal, saying users “paying and willing to pay” for Zoom’s AI Companion had almost tripled year over year. He framed that as evidence that customers were treating Zoom as more than video conferencing — as a workspace.

Chang gave the specific metric: paid monthly active users were up 184%. She tied that growth first to meeting summaries, then to a newer feature called My Notes, which she described as a personal-context note taker.

My Notes was the clearest product example. Chang said Zoom had announced it four months earlier, and that the feature had grown to 1.5 million monthly active users in that period. Her explanation was that the product began with meeting summaries but is now extending toward personal context and the broader meeting lifecycle.

The point was not simply that AI can summarize meetings. Chang’s argument was that summaries were an entry point into a larger workflow. If Zoom can understand conversations and attach them to the context of work, it can help move those conversations to completion. That was the operational promise behind the “system of action” language.

The present-day Zoom story, as Chang described it, is meant to be distinct from the company’s widely understood COVID-era narrative without rejecting what made the product familiar in the first place. Her answer preserved the old brand attributes while relocating the growth story elsewhere.

She said Zoom is “retaining that original customer love” along with the pace of innovation, security, and trust that “made Zoom Zoom.” But she returned to the same strategic claim: the company’s future is about a system of action, built from context across internal and external organizational activity, and from taking conversations through to completion.

The financial claims were stated in the same breath as the product claims. Chang paired the product transition with claims of profitability, revenue growth, and high cash-flow generation.

That was the balance she tried to strike throughout: Zoom is still relying on the reliability and trust that made it a default meeting tool, but it wants customers and investors to judge it by more of the work that happens around meetings. The AI Companion usage figure and the early My Notes adoption were offered in support of that broader product direction.