Zoom shares fall after results as Wall Street turns cautious on growth

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% on Monday.

Revenue was at $1.05 billion in the quarter ended October 31, Zoom said, after rising 54% in the previous quarter and surging 360% a year earlier.

The stock, a pandemic winner, fell to $227.5 in extended trading, after having lost about 28% this year.