Home Business Zoom sinks -10% on Wall Street after large customer growth flop

Zoom sinks -10% on Wall Street after large customer growth flop

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A session of strong sales on Zoom Video Communications is looming (over -10.7% to $ 216 in pre-market) thanks to the growth of the customer base lower than expected in the third quarter of 2021. The videoconferencing platform at the end of October boasted 512,100 customers with more than 10 employees, up 18% compared to + 36% in the previous quarter. In the three months ended October 31, Zoom saw revenues + 35% yoy 1.05 billion (consensus was 1.02 billion) with a net profit attributable to shareholders of $ 340.3 million, equal to 1.11 dollars per share.

For the current quarter ending January, Zoom Video expects revenue of $ 1.052 billion compared to an estimate of $ 1.018 billion.

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