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    Zoom provides disappointing revenue forecast for first quarter and full year

    Author: Editors Desk Source: CNBC
    February 28, 2022 at 20:44
    Victor J. Blue | Bloomberg | Getty Images
    Victor J. Blue | Bloomberg | Getty Images

    Zoom’s revenue growth has slowed as employees started returning to the office and companies eased their purchases of software for remote work.

    Zoom issued a weaker-than-expected revenue forecast for the first quarter and full fiscal year on Monday. Shares of the video-chat software maker, which posted its fiscal fourth-quarter results, initially sank as much as 13% in extended trading before rebounding.

    Here’s how the company did:

    • Earnings: $1.29 per share, adjusted, vs. $1.06 per share as expected by analysts, according to Refinitiv.
    • Revenue: $1.07 billion, vs. $1.05 billion as expected by analysts, according to Refinitiv.

    Zoom’s revenue increased 21% from the year-earlier period ended on Jan. 31. That’s a deceleration from 35% growth in the prior quarter, according to a statement.

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