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HomeTrading NewsBest Buy shares tank amid strong quarter, but lower margin

Best Buy shares tank amid strong quarter, but lower margin

Reuters

Zoom shares tumble as revenue growth slows

Shares of Zoom Video Communications Inc slumped to 17-month lows on Tuesday after the video conferencing platform posted its slowest quarterly revenue growth amid stiff competition from deep-pocketed rivals Cisco, Microsoft and Salesforce. “With topline growth still weighed down by weakening trends in the micro segment from pull-forward and temporary pandemic business, we look for a clear line of sight to the growth trough,” said brokerage Needham. Zoom’s addition of new customers with over 10 employees also grew at its slowest pace at 18%, below pre-pandemic levels when the company was not yet a household name.

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