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Why ZoomInfo Technologies Stock Tumbled Today

TheMotleyFool

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Why ZoomInfo Technologies Stock Tumbled Today: https://g.foolcdn.com/editorial/images/742237/artificial-intelligence-investing-algorithms.jpg

Shares of ZoomInfo Technologies (NASDAQ: ZI), which offers a B2B platform for businesses to use for sales and marketing, were taking a dive today after the company issued weaker-than-expected second-quarter results and cut its guidance for the year ahead.

As of 3:07 p.m. ET, the stock was down 26.1%.

Revenue in the quarter rose 16% to $308.6 million, which was just shy of estimates at $310.9 million. The company topped 35,000 overall customers but said customers with at least $100,000 or greater in annual contract value shrunk from 1,905 in the first quarter to 1,893, a sign it's losing some of its higher-value customers.

Source Fool.com

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