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Zoom Sinks as Forecast Fuels Post-Pandemic Letdown Fears

  • Sales projections fall short of some analysts’ estimates
  • Investors are concerned growth is slowing as workers return
    
Photographer: Tiffany Hagler-Geard/Bloomberg
Updated on

Zoom Video Communications Inc. gave a sales forecast that fell short of some analysts’ estimates, raising concerns the company will have difficulty maintaining rapid revenue growth as workers turn away from remote meetings. Shares fell more than 11% in extended trading.

Revenue will be about $1.02 billion in the current period, and $4.01 billion in the fiscal year, the San Jose, California-based company said Monday in a statement. Analysts had expected quarterly revenue of as much as $1.06 billion and annual sales of as much as $4.08 billion, according to data compiled by Bloomberg.