Zoom Communications forecast quarterly profit below Wall Street estimates on Wednesday, signaling intense competition and a cautious spending environment could weigh on its earnings. Shares of the company were down nearly 3% in extended trading. Zoom is increasingly squeezed by rivals such as Microsoft's Teams and Alphabet's Google Meet, which come bundled with broader workplace suites that often make them cheaper for enterprise customers. Despite a push to diversify its offerings, Zoom has been grappling with slowing growth as pandemic-era work-from-home arrangements decline and employees return to offices.