Zoom Slides as Sales Forecast Raises Growth Concerns: Chart
(Bloomberg) -- Zoom Video Communications Inc. fell as much as 17% on Tuesday and was headed for its worst rout in nine months amid concerns that the video-conferencing platform’s days of robust growth may be over. The company behind the namesake product forecast revenue of about $1.02 billion in the current quarter, and $4.01 billion for the fiscal year, both short of some Wall Street estimates. “Bigger picture, a lot of people already bought the core video conferencing solution, so now the question is what else can Zoom sell to its customers?” said Pat Walravens, an analyst at JPM Securities.
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