NEW YORK, July 13, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at Alibaba Group Holding Limited (NYSE: BABA), NexTech AR (OTC: NEXCF) (CSE: NTAR), Chegg, Inc. (NYSE: CHGG), and Zoom Video Communications, Inc. (NASDAQ: ZM).
Cloud-based video connectivity, & collaboration are rapidly transforming education, healthcare, and the workspace. Wall Street Reporter highlights tech leaders comments and insights from recent earnings calls.
Alibaba Group Holding Limited (NYSE: BABA), Executive Chairman & CEO, Daniel Zhang: ”Alibaba: $1 Trillion Digital Economy, Powered by Cloud & Big Data Infrastructure”
“..Despite the impact of COVID-19 pandemic, Alibaba achieved a historical milestone of US$1 trillion in GMV across our Digital Economy this fiscal year, a strategic goal that we set for ourselves five years ago…During pandemic, our public cloud business grew rapidly driven by increased consumption of video content, as well as web adoption of remote working and learning.”
“Our cloud computing infrastructure and big data business has also played a key role in enabling business to quickly resume operation and production. We believe the pandemic will further accelerate digital transformation of enterprises. All industries, including public sectors, will choose to move their technology infrastructure to the cloud.”
“DingTalk our digital collaboration platform for enterprises played a key role during the pandemic. Millions more enterprises and users in China are now using DingTalk to stay connected and work remotely. DingTalk also made significant penetration in the education sector, as schools adopt the platform for their teachers and students. In March 2020, DingTalk conducted an average of over 1 million active classroom sections on each school day. DingTalk’s number of daily average active consumers during a working day grew significantly to 155 million in March. As offices and schools reopened in China, DingTalk’s number of active users came down from the peak level but still maintained at more than 100 million DAU.”
BABA Earnings call highlights available at: https://www.wallstreetreporter.com/2020/07/alibaba-group-holding-limited-nyse-baba-q4-2020-results-conference-call-summary-highlights/
NexTech AR Solutions (OTC: NEXCF) CEO Evan Gappelberg: “$150 Billion Tradeshows & Meetings Market Being Displaced by Virtual & Video Meetings”
In a July 9 presentation at Wall Street Reporter’s “Next Super Stock” livestream investor conference, CEO Evan Gappelberg shared with investors how NexTech, video conference and AR solutions are displacing the $150 billion tradeshow and meeting market. Up for grabs is the digital transformation of the global trade show market
Businesses, educational institutions and governments are turning to video conferencing and virtual meetings, such as NexTech’s InfernoAR platform. NexTech’s InfernoAR video conference platform which boasts Augmented Reality tech features, provides the large scale, secure, meeting solutions these enterprises demand. In his presentation, Gappelberg describes how NexTech revenues are now accelerating with increasing velocity of new customer wins.
NEXT SUPER STOCK (OTC: NEXCF) July 9 Conference Presentation available at: https://www.wallstreetreporter.com/2020/07/nextech-ar-otc-nexcf-july-9-next-super-stock-livestream/
On July 8, NEXCF announced it has filed to uplift its shares to NASDAQ.
On July 13, NEXCF announced new collaborative video conferencing solutions addressing the Telemedicine/Healthtech and Edtech markets. The new video conferencing features will integrate collaborative classroom learning, one to one networking and traditional video conferencing directly into the platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR. This new capability addresses the global Edtech market expected to hit $345 billion by 2025 (according to Business Insider) and the fast growing Telemedicine market which according to Statista was valued at some $45 billion U.S. dollars.
New client wins for NexTech’s InfernoAR video conferencing and virtual events announced in recent weeks include: Dallas Independent School District (Dallas ISD), National Association of Medicaid Program Integrity (NAMPI) and the National Association of Medicaid Directors (NAMD), in partnership with ARB Meetings and Events. Gappelberg commented: “This latest client win is an example of another institution, choosing InfernoAR for its enhanced security, amplified video and immersive augmented reality experiences over the competition. After we acquired InfernoAR we went to work on bringing to market not just a video conference platform, but the best and most secure platform on the market with the added feature of AR. We are now in the final stages of launching new and disruptive augmented reality features embedded into InfernoAR, called 'ScreenAR'. We believe that once this new 'ScreenAR' technology is launched, we will have a competitive edge accelerating the adoption of InfernoAR by enterprise global brands in 2020 and beyond. “
On June 25, NexTech announced a partnership with Fastly (FSLY), a global edge cloud platform, achieving a breakthrough in enterprise video security. Its implementation of JWT with Fastly brings token authentication to the edge greatly enhancing security and performance.
NEXT SUPER STOCK (OTC: NEXCF) July 9 Conference Presentation available at: https://www.wallstreetreporter.com/2020/07/nextech-ar-otc-nexcf-july-9-next-super-stock-livestream/
Chegg, Inc. (NYSE: CHGG), CEO Dan Rosensweig: "Digital Transformation of Education Fully Underway”
“A crisis often accelerates the inevitable and that is what we are seeing happening now in higher education. The reality is students who are already learning online, were under supported by their schools who had diminishing budgets, so that the need for virtual learning support was already expanding...Almost overnight, when schools around the world had to move 100% online, that trend accelerated and has revealed the true potential and the value of what Chegg has to offer. The numbers say it best, and what they reflect is that students have an even greater need for high-quality, low-cost, personalized, and adaptive online education to help them learn and master their curriculum….As we think about the lasting impact on the future of higher education globally, we see these trends continuing.
“We saw a marked increase in engagement from our existing subscribers and we're seeing a meaningful increase in the take rate of our new Chegg Study Pack much early than we expected.”
CHGG Earnings call highlights available at:https://www.wallstreetreporter.com/2020/07/chegg-inc-nyse-chgg-q1-2020-results-earnings-conference-call-highlights-summary/
Zoom Video Communications, Inc. (NASDAQ: ZM) CEO Eric Yuan: “Video is the New Voice”
“Video is the new voice…The way for us to work, live and play is completely changed….We had an approximately twentyfold increase in our metric of annualized meeting minutes run rate, which jumped from 100 billion at the end of January 2020 to over 2 trillion meeting minutes based on April 2020’s run rate…”
“…Our users trust us to deliver the best and most secure video-first communications platform. I believe our result will continue to make us a stronger company for our customers and in the global community.”
“Now let me discuss a few of our happy customers. We are thrilled to welcome Arm Technology to the Zoom family..In Q1, Arm chose to deploy approximately 8,000 Zoom Meeting licenses, 800 Zoom Rooms and 9,000 Zoom Phones to deliver a one-touch experience to their employees globally…..We are also happy to welcome Baker McKenzie...We feel privileged to be the video communications platform of choice for the number one law firm brand in the world.”
ZM Earnings call highlights available at:https://www.wallstreetreporter.com/2020/06/zoom-video-communications-inc-nasdaqzm-q1-2021-earnings-conference-call-highlights-summary/
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