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Analysts have raised concerns about Zoom’s prospects as the pandemic recedes and competitors such as Microsoft (NASDAQ:MSFT)’s Teams, Cisco (NASDAQ:CSCO)’s WebEx and Google (NASDAQ:GOOGL)’s Meet fight for video-conferencing market share.
Moreover, Zoom has the uphill task of onboarding large clients, which contribute more than $100,000 in revenue, to sustain its pandemic-levels of growth at a time when companies are grappling with decades-high inflation.
Zoom now expects annual adjusted profit per share between $3.66 and $3.69, compared with $3.70 to $3.77 forecast earlier.
It forecast revenue between $4.39 billion and $4.40 billion, compared with its earlier outlook of $4.53 billion to $4.55 billion.
Zoom, which saw demand spike for its tools during the height of the pandemic, also reported its slowest revenue growth on record at 8% to $1.1 billion in the second quarter ended July 31.
