In the recent weeks, most technology companies have announced big cost containment measures. Microsoft (Nasdaq: MSFT) was no outlier, as it announced plans to lay off 10,000 workers. The recent second quarter results were not impressive either, as the company missed expectations and reported significant reduction in profits.
Earlier last week Netflix (Nasdaq: NFLX) reported its fourth quarter results that failed to dazzle the market. The company has been experimenting with newer price tiers in attempts to improve monetization across its subscriber base.
According to a recent report, the global accounting software market is expected to grow at 8% CAGR to reach $38.08 billion by 2030. BlackLine (NASDAQ: BL) is targeting to grow in this market through several product upgrades that leverage its AI capabilities.
According to a recent report, the global serverless architecture is expected to grow at 25% CAGR over the next ten years from $9 billion in 2022. DigitalOcean (NYSE: DOCN) continues to grow inorganically to drive its market reach.
According to a recent report, the global enterprise collaboration market is expected to grow at 14% CAGR from $47.74 billion in 2022 to $92.41 billion by 2027. Work management platform provider Smartsheet (Nasdaq: SMAR) recently announced its third quarter results that exceeded market estimates.
According to a recent report, the global Unified Communication as a Service (UCaaS) market is expected to grow at 14.5% CAGR to reach $85.7 billion by 2031. RingCentral (NYSE:RNG) recently announced its third quarter results that continued to surpass market expectations.
Global networking solutions provider Cisco (Nasdaq: CSCO) reported quarterly results that outpaced market expectations. The company has been focused on diversifying to subscription-based services.
Enterprise cloud security company Zscaler (NASDAQ: ZS) recently reported its first-quarter results that continued to outpace market expectations. It has been working on expanding its market reach by focusing on products geared toward the enterprise sector.