Zoom's Revenue Growth Is Running Out of Steam

The immense growth of Zoom Video Communications during the pandemic is not realistically going to be repeated. Ever. But the fall in revenue growth over the last few quarters may be cause for concern for shareholders and investors. Indeed, after the company reported its latest quarterly figures on Monday, along with just 8 percent growth in revenue, its share price dropped 8.7 percent overnight, before slumping further throughout the day. This latest drop only added to the share price misery experienced by Zoom, with a YTD decrease of 46 percent, and 70 percent when looked at over the last 12 months.

As this infographic shows, with 'winner of the pandemic' scale revenue growth still evident in Q4 2021 (ending January 31, 2021), it has somewhat understandably been all downhill for the video conferencing provider ever since. In its earnings press release, Zoom CFO Kelly Steckelberg said: "While we saw continued momentum with our Enterprise customers and our non-GAAP operating income came in meaningfully higher than our outlook, our revenue was impacted by the strengthening of the U.S. dollar, performance of the online business, and to a lesser extent sales weighted to the backend of the quarter,” before announcing a downward revision for the company's annual forecast.
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