Why is Zoom’s growth slowing? For a number of factors.But the thing is, Zoom isn’t posting the massive growth as it did during the earlier days of the pandemic–and that has investors thinking the ride could be over soon. Isn’t 8% revenue growth good, though? Sure, no company is going to see 8% revenue growth as a bad thing.Zoom has revenue of $1.1 billion up only 8%. It also slashed its annual revenue forecast from $4.53 billion–$4.55 billion to $4.39 billion–$4.40 billion. The company said its online business was likely to decline by 7% to 8% in 2023. What was so bad about Zoom’s Q2? The main thing that spooked investors was that the company cuts its yearly revenue and profit forecasts, reports Reuters.As of the time of this writing, ZM stock is down over 11% to $86.35 per share in pre-market trading. What’s happened? Zoom reported its second-quarter earnings results yesterday and the stock sank.The problem? The pandemic might not be over, but work forces are acting like it is.
Talk about amazing returns.īut almost two years later, Zoom stock is taking a beating after the company reported its Q2 2022 results. In January 2020, the stock sat around $76 per share, but by peak-pandemic–September of the same year–Zoom stock (ticker: ZM) surged to over $470 per share. Not too long ago, Zoom was the pandemic darling.
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