Zoom shares tumble as sales slow down
Zoom Video Communications Inc sales slowed down in the third quarter due to muted demand of videoconferencing applications as offices reopen
By Shubhangi Mathur
Published - Nov 24, 2021, 12:17 AM ET
Last Updated - Jul 05, 2024, 12:02 AM EDT
• Zoom’s sales rose 35% in the quarter, compared to 54% in the previous quarter
• Shares of the company fell around 6% to $227 in after-hours trading
Zoom Video Communications Inc sales slowed down in the third quarter due to muted demand of videoconferencing applications as offices reopen.
The California-based company’s sales rose 35% in the quarter to $1.05 billion, compared to 54% sales growth in the previous quarter and 360% in the year earlier.
