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Zoom Tumbles Amid Signs of Slowing Growth Post-Pandemic

  • Pandemic high-flier has declined this year on growth concerns
  • Company gives upbeat sales forecast, but questions linger
Bloomberg business news

WATCH: Zoom Beats on Revenue and Profit

Source: Bloomberg

Updated on

Zoom Video Communications Inc. shares were down about 12% Tuesday morning after the video-conferencing company reported a smaller-than-projected number of large customers for a second straight quarter, stoking concerns about growth as more workplaces and schools open back up.

The company had 512,100 customers with more than 10 employees in the third quarter, an increase of 18% from a year earlier, according to a  statement from San Jose, California-based Zoom. That missed the average analyst estimate for 516,174, according to data compiled by Bloomberg.