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Thndr Claps » U.S. Claps » Tech 📲 » Zoom missing the pandemic? 💻

Zoom missing the pandemic? 💻

by Omar El Shorafa
August 23, 2022
Claps

The Clap
Zoom (NASDAQ: ZM) recorded a revenue slowdown for Q2 2022, as sales and subscriptions fell off. 

The Deets
Zoom lowered its forecast for the 2023 fiscal year, as the industry shifts away from pandemic buying patterns. 

The initiatives taken by Zoom to attract more online subscriptions did not work effectively enough to drive revenues up.

The company predicts that its online business will decline by 7% – 8%, previously expecting it to remain stable.

Why this Matters
Zoom’s stock fell a little over 2% following the news.

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