Semtech, Zoom, Box and nCino Report Q2 Results With Mixed Outcomes

A wave of second-quarter earnings reports landed on August 25, with Semtech and Zoom Communications posting beats while nCino disappointed. Semtech posted record fiscal Q2 revenue, sending its shares higher, and projected further growth across its data center, LoRa and consumer businesses while advancing a planned divestiture of its cellular module operation. Zoom Communications reported revenue of $1.28 billion, up 4.9% year over year and $7 million above the top of its guidance range, with enterprise revenue climbing 7.8% for its strongest growth rate in three years.

Box exceeded its own guidance for fiscal Q2 2027, citing record bookings, accelerating adoption of its Enterprise Advanced offering and rising demand for AI-driven content workflows, and subsequently raised its full-year outlook. nCino missed profit expectations for fiscal Q2 2027, pushing its shares lower, though the banking software company did report revenue growth, raised portions of its full-year guidance and highlighted growing customer adoption of its AI capabilities.