Zoom shares slide as growth slows

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019. Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth. Here are the key numbers:Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv. Excluding certain items, 9 ce


Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019.
Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth.
Here are the key numbers:Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv.
Excluding certain items, 9 ce
Zoom shares slide as growth slows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: jordan novet
Keywords: news, cnbc, companies, analysts, slide, growth, according, revenue, share, shares, slows, quarter, expected, zoom, company, cents


Zoom shares slide as growth slows

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on September 25, 2019.

Shares of video conference software company Zoom initially rose but then fell as much as 11% after the company issued fiscal third-quarter earnings that surpassed estimates on Thursday, revealing slowing growth.

Here are the key numbers:

Earnings: Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv.

Excluding certain items, 9 cents per share, vs. 3 cents per share as expected by analysts, according to Refinitiv. Revenue: $166.6 million, vs. $154.9 million as expected by analysts, according to Refinitiv.

Zoom’s revenue increased 85% on an annualized basis in the third quarter of the company’s 2020 fiscal year, which ended on October 31, according to a statement. Last quarter, revenue growth was 96% from the previous year, falling below 100% for the first time in at least one year.

Zoom said it had 74,100 customers with over 10 employees at the end of the quarter, up 67% year over year. The growth rate in the prior quarter was 78%.

The company had 546 customers that were contributing over $100,000 in revenue over the trailing 12 months at the end of the quarter, up 97%. The percentage is down from 104% one quarter ago.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: jordan novet
Keywords: news, cnbc, companies, analysts, slide, growth, according, revenue, share, shares, slows, quarter, expected, zoom, company, cents


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