- Home
- Technology
- News
Zoom says its demand slowing after pandemic boom, expects lukewarm growth
Zoom Video Communications on Monday said the demand for its video-conferencing service was slowing after a pandemic-led boom last year.


The company's shares tumbled 8% in after-market trading.
The company forecast current-quarter revenue between $1.015 billion and $1.020 billion, compared with the analysts' average estimate of $1.013 billion, according to Refinitiv data.
The COVID-19 crisis turned Zoom into a household name in 2020 as people working and studying at home turned to its platform. But vaccinations are encouraging schools to reopen and more companies to bring employees back to offices.
Competition from legacy platforms such as Cisco's Webex and Microsoft Teams has also dented the company's efforts to win bigger contracts from businesses.
Zoom said it expected adjusted earnings of $1.07 to $1.08 per share in the current quarter, compared with expectations of $1.09 a share.
Its margins have taken a hit due to increased spending on its data centers and cloud computing services from vendors such as Amazon.com Inc as free users surge on the video conference provider's platform.
It forecast annual revenue in the range of $4.01 billion to $4.02 billion for the fiscal year 2022, roughly in line with expectations.
The company posted a profit of $1.04 per share in the second quarter on revenue of $1.02 billion, both of which were higher than analysts' estimates.
SOURCE: REUTERS

Polio campaign extended to age 15 amid new cases in older children
- an hour ago

Cambridge offers candidates free re-sits for leaked exam papers
- 5 hours ago

Student dies, 8 injured as van catches fire near Ahmadpur Sharqia
- 3 hours ago

Over 50,000 evacuated as wildfires devastate Turkey’s Izmir
- 3 hours ago
Dubai successfully tests first air taxi
- 3 hours ago
US officially ends sanctions program on Syria
- 2 hours ago

KSE-100 index surges past 127,000 points
- 3 hours ago

Massive hike in gold rates across Pakistan
- 3 hours ago

Prisoners lists exchanged between Pakistan, India
- 5 hours ago

New great feature for people using Gmail on Android phones
- 5 hours ago

Sindh govt declares July 5-6 public holidays for Youm-e-Ashura
- an hour ago
Judicial Commission approves appointments of CJs of three high courts
- 4 hours ago