Operating cash flow was marginally lower compared to the second quarter, driven by increased marketing and research and development expenses. At time of writing, ZM is 11.15% down day-on-day and continues to slump at time of writing, currently trading at $201. Zoom's shares went south on 22 November, opening lower still the following day.
Investors responded cautiously to this decelerating growth rate. Although this is a strong figure in general terms, it pales in comparison to last year’s 367% growth rate. The bottom line exceeded both internal guidance and independent Zoom stock predictions by a healthy margin, as total revenues grew 35% year-on-year to $1.05bn. Key figures from the third-quarter report Increasing competition in the sector, coupled with lockdown restrictions being eased, pared back the Zoom share price forecast among analysts.Ĭan Zoom prove to be more than a Covid-19 stock? We dive into the key quarterly figures and look into the Zoom stock forecast. But despite these impressive gains, investor confidence has cooled-off somewhat recently.
The company's shares skyrocketed accordingly, nearly tripling in value between April and October. The California-based teleconferencing platform went from a fairly successful unicorn to part of the pandemic lexicon in a few short months, increasing its daily meeting participants 30-fold and posting year-on-year revenue growth above the 360% mark. Key figures from the third-quarter reportįew companies fared better than Zoom Video Communications (ZM) throughout the Covid-19 pandemic.
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