AT&T Inc. (T - Free Report) stretched its collaboration with RingCentral (RNG - Free Report) to leverage its technology for online voice and video team meetings. The state-of-the-art mobile-first will be incorporated in AT&T’s cloud-based platform — Office@Hand. The move reflects the wireless service provider’s initiatives to address the surge in data demand, especially at a time when majority of the population is required to work from home to avert exposure from the deadly COVID-19 pandemic.
AT&T Office@Hand is a flexible cloud-based solution that enables employees and work groups to work virtually with seamless connectivity. Equipped with advanced call handling services, the cost-effective communication platform stokes employee productivity, increases efficiency, enhances customer satisfaction and reinforces unity within a dispersed workforce. With hassle-free maintenance and support system, the solution also introduced premium offers to support business customers, schools and health care providers for two months at no additional costs during these struggling times.
RingCentral’s Video technology is a cutting-edge cloud-hosted virtual solution that boosts conferencing efficiency on a real-time basis. Equipped with the best-in-breed of streamlined operations and high-definition video conferencing, the solution eliminates redundant travel expenses to stay connected with clients and colleagues on the go. Specifically designed to support more than 100 applications, ranging from Alphabet (GOOGL - Free Report) to Microsoft (MSFT - Free Report) , the affordable video platform is easy to use and provides customized service to stay connected in dire circumstances.
AT&T along with this Belmont, CA-based communications company will now be able to offer an out-and-out cloud-based phone system that will help businesses keep remote and in-office employees connected with customers. Notably, the partnership will provide customers with nationwide and international calling options and enhanced mobile apps to manage phone system settings with pre-configured “Plug & Ring” ready desktop phones. In the light of AT&T Office@Hand’s enhanced integration with Microsoft Teams, the collaboration with RingCentral is likely to accelerate new-age technologies, benefiting AT&T’s networks in the days to come.
Impressively, the Dallas, TX-based wireless carrier has been helping Americans to work from home, learn at home and connect remotely to health care professionals during this hour of crisis. Along with AT&T, various broadband and phone service providers have agreed to take specific steps to help people stay connected for the next 60 days. They have committed to not terminate service to any residential or small business customers because of their inability to pay bills, waive late fees due to economic circumstances and open Wi-Fi hotspots to those in need. For the safety of employees, the company decided to double the hours for paid and excused time off up to a total of 160 hours for those who are unable to resume their professional obligations due to protective measures.
Despite pro-active measures, AT&T is uncertain about the possible impact of the virus outbreak on its financial or operational results. Effectiveness of COVID-19 mitigation measures, global economic conditions, consumer spending, work from home trends and supply chain sustainability are factors that are likely to impact the company’s results. These factors could result in increased or decreased demand for the company’s products and services and impact its ability to serve customers. That said, it continues to care for employees and enhance network that also includes nationwide 5G. The investments will ensure that the company is well positioned when the pandemic eases and economies begin to recover.
Shares of the Zacks Rank #3 (Hold) have lost 10.1% against the industry’s rise of 12.8% in the past year. With a forward P/E ratio of 7.8, the company topped earnings estimates thrice in the trailing four quarters and met the same in the remaining quarter. It has a trailing four-quarter positive earnings surprise of 0.9%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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