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Zoom reports big 3Q gains, but slowing growth sinks stock

Zoom reports big 3Q gains, but slowing growth sinks stock

4 years ago
Anonymous $RGO3jP_V_c

https://apnews.com/7d49eef6f558a241158078077e9bdc4c

SAN RAMON, Calif. (AP) — Zoom’s videoconferencing service remains a fixture in pandemic life, but its breakneck growth is showing signs of tapering off as investors debate whether the company will be able to build upon its recent success after a vaccine enables people to intermingle again.

For now, Zoom is thriving as tens of millions of people who never heard of the service at the beginning of the year rely on its video meeting tools to connect with their co-workers, teachers, friends and family while efforts to fight contain the pandemic prevent them from going into offices, schools and most many other places. That dependence boosted Zoom’s fortunes, producing a pandemic-driven success story that was highlighted again Monday with the release of the company’s quarterly results for the August-October period.

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