Zoom's stock plunges as sales growth slows
CNN
Zoom Video Communications was one of the clear winners of the pandemic economy. But as more people return to the office and classroom, the company now faces a bigger challenge: living up to Wall Street's hype.
Shares of Zoom (ZM) plunged nearly 15% Tuesday morning and are now in the red for the year after the company reported results for its fiscal second quarter after the close on Monday. The numbers were good. Earnings easily beat forecasts. So did revenue, as sales topped $1 billion in a quarter for the first time. What's the problem then? Sales growth is cooling. And investors have high expectations for Zoom after the stock soared an astonishing 400% in 2020.
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