Company briefs: Zoom

Zoom Video Communications' latest results showed that its transition from being a provider of an essential pandemic-era tool to an enterprise business platform is going to take longer than expected.

While the communications technology company said it is generating a growing percentage of revenue from enterprise customers, it did not add as many in the fiscal second quarter as analysts expected. The firm also cut its annual revenue forecast, saying it is losing sales from consumers and small businesses faster than anticipated.

BLOOMBERG

---

Trek 2000

Technology provider Trek 2000 International maintains it is not involved in legal charges against its founder and former chairman emeritus and chief executive Henn Tan, as the matter is "in his personal capacity". It said there was no financial impact to the company from these charges and that its financial position "continues to be healthy".

Based on Trek 2000's financial statements for the first half of the fiscal year ended June, the group sank to a net loss of US$6.4 million (S$8.9 million) from earnings of US$504,000 the previous year.

THE BUSINESS TIMES

---

Meta Platforms

Meta Platforms learnt via a Twitter post that the United States Federal Trade Commission (FTC) was suing it over one of its smaller acquisitions.

The Facebook parent company had provided hundreds of pages of documents, data and other details to the FTC as part of a routine disclosure before its acquisition of Within Unlimited, a virtual reality fitness app maker, could be approved, according to people familiar with the matter.

But the regulator made no indication it was about to challenge the deal, and did not send its legal complaint to the firm, the sources said.

BLOOMBERG