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2021-11-23

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Zoom quarterly results top estimates but sales growth slows

Zoom Video Communications Inc's third-quarter revenue growth rate slowed to 35% as demand for its vi

Zoom quarterly results top estimates but sales growth slows

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Thank you 😊","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/875237211","repostId":1139322425,"repostType":4,"repost":{"id":"1139322425","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637620768,"share":"https://www.laohu8.com/m/news/1139322425?lang=&edition=full","pubTime":"2021-11-23 06:39","market":"us","language":"en","title":"Zoom quarterly results top estimates but sales growth slows","url":"https://stock-news.laohu8.com/highlight/detail?id=1139322425","media":"Tiger Newspress","summary":"Zoom Video Communications Inc's third-quarter revenue growth rate slowed to 35% as demand for its vi","content":"<p>Zoom Video Communications Inc's&nbsp;third-quarter revenue growth rate slowed to 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Cisco's&nbsp;conferencing tool Webex and Microsoft's&nbsp;Teams has made it challenging for Zoom to win over enterprise customers.</p>\n<p>To retain its users, the company launched a variety of new offerings such as Events platform, where businesses can host large-scale conferences, cloud-calling service Zoom Phone and in-office meetings feature Zoom Rooms.</p>\n<p>\"Their Rooms and Phone businesses are 5% penetrated or below and that seems to imply plenty of remaining runway for growth even within their existing capabilities only,\" said Joe McCormack, senior analyst at Third Bridge said.</p>\n<p>Investment bankers and analysts have warned that Zoom faces several hurdles in sustaining growth after its $14.7 billion bid to buy call center software firm Five9 Inc&nbsp;fell through.</p>\n<p>Still, Zoom reported an adjusted profit of $1.11 per share, beating Wall Street's estimates $1.09 per share, according to Refinitiv data.</p>\n<p>The company also forecast current-quarter revenue and earnings above expectations, and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139322425","content_text":"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% in extended trading Monday.\n\nRevenue 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.\nThe stock, a pandemic winner, fell to $227.5 in extended trading, after having lost about 28% this year.\nMoreover, stiff competition posed by Cisco's conferencing tool Webex and Microsoft's Teams has made it challenging for Zoom to win over 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Zoom quarterly results top estimates but sales growth slows

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