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