Zoom Video Communications Inc's third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year, sending its shares down about 6% on Monday.
A 3D printed Zoom logo is placed on the keyboard in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration/Filesthird-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year, sending its shares down about 6% on Monday.
Revenue was at $1.05 billion in the quarter ended Oct. 31, Zoom said, after rising 54% in the previous quarter and surging 360% a year earlier. The stock, a pandemic winner, fell to $227.5 in extended trading, after having lost about 28% this year.
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