The Zoom videoconferencing platform, which has taken full advantage of the boom in telework and home schooling since the start of the pandemic, sees its growth rate slow down and its stock fell nearly 10% on Wall Street on Monday.
The turnover of the Californian start-up increased by a further 54% compared to the previous year over the three months from May to July, and exceeded for the first time. Once the billion dollar mark over the period, at 1.02 billion.
But that’s less than the 191% growth recorded in the previous quarter, or the 326% growth observed over the entire accounting year of the company ending at the end of January. , when “Zoom Meetings and Cocktails” unfolded in the daily lives of millions of people.
And for the current period, from August to October, Zoom forecasts a 31% growth in turnover as schools reopen their classes and businesses organize themselves to a widespread return to the office – although some of them have postponed this moment due to the spread of the Delta variant.
The company also expects adjusted earnings per share, the preferred measure for Wall Street investors, of between $ 1.07 and $ 1.08 for the current quarter, which is a little less than the 1.09 dollar expected by analysts.
The stock was down more than 10% around 9 p.m. GMT in electronic exchanges following the end of the official sitting on the New York Stock Exchange.
Even though it fell back from a peak in October 2020, the action was still worth three times as much on Monday at close as in early March 2020, at the start of the large-scale spread of Covid-19 to the United States. United States, with a market capitalization of approximately $ 103 billion.