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Why Zoom Stock Dropped Today

TheMotleyFool

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Shares of Zoom Video Communications (NASDAQ: ZM) fell 7.4% on Tuesday after the cloud communications leader warned of slowing growth.

Zoom's revenue rose 21% year over year to $1.1 billion in its fiscal 2022 fourth quarter, which ended on Jan. 31. That marked a significant slowdown from the 35% growth the company experienced in the third quarter and the 54% sales increase it achieved in the second quarter.

The number of customers with more than 10 employees on the videoconferencing platform grew 9% from the year-ago period to 509,800. But that was down from 512,100 customers at the end of the third quarter.

Source Fool.com

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