Zoom reports the slowest quarterly sales growth rate, expects 8% decline for small business customers
Zoom anticipates that enterprise business will grow by more than 20%, while small business customers will decline by 8%. Zoom expects its enterprise business to grow by more than 20% this year, while small business customers will decline by 8%, according to its full-year guidance. This was presented by Chief Financial Officer Kelly Steckelberg during her call with analysts.
Zoom Video Communications Inc. fell 6% in extended trading. The company reported its slowest quarterly sales growth on record, as well as a slight decrease in its full-year revenue forecast. This is significantly lower than the previous quarter, when revenue increased by 8%.