Preview: Zoom falls as analysts flag slowest revenue growth since listing

Zwahlen Et Mayr SA

22/08/2022 11:50

** Shares of video conferencing company Zoom Video
Communications  ZM.O  fall 1.3% to $98.18 premarket
    ** Analysts expect Q2 revenue of $1.12 bln, up 9.4% - its
slowest revenue growth since listing - Refinitiv
    ** Wall Street expects Q2 net income of $292.99 mln, lower
than $415.07 mln, a year earlier - its highest drop in profit
since it went public
    ** Citigroup last week downgraded ZM to "Sell" from
"Neutral" and cut price target to $91 from $99  urn:newsml:reuters.com:*:nL4N2ZS259
    ** Brokerage said Zoom's post- COVID growth trajectory has
always been more challenging
    ** Citigroup added that it sees new hurdles to sustaining
growth, including rising competition and macro-related weakness
hitting small and medium businesses
    ** ZM reports Q2 results after markets close on Monday
    ** Up to last close, stock had fallen ~46% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))