Zoom disappointed analysts by forecasting lower fiscal 2023 revenue than Wall Street was expecting.
Zoom became the poster child for remote work and videoconferencing. Once primarily a tool for the enterprise, the company and platform became a household name, as companies, churches, individuals, and families used it to stay connected.
One of the biggest questions hanging over the company is how it would maintain its growth as things returned to normal. Zoom recently unveiled its Zoom Contact Center in an effort to get back to its enterprise roots and future-proof its growth.
Unfortunately, according to Reuters, the company is still projecting it will miss Wall Street’s estimates for its fiscal 2023 revenue, causing the stock to slide roughly 12%. It remains to be seen if the company will be able to recapture its pandemic-fueled momentum.