Zoom third-quarter revenue growth slows amid fall in video-conferencing demand
By
Biju Kumar
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 Oct 31, Zoom said, after rising 54% in the previous quarter and surging 360% a year earlier.