Why Zoom Stock Plunged Today
Shares of Zoom Video Communications (NASDAQ: ZM) fell 9% on Tuesday, following the cloud communication leader's fourth quarter results.
Zoom's revenue soared 369% year over year to $882.5 million. Usage of Zoom's cloud-based video, voice, and chat tools continued to grow at a rapid clip -- and many of its free users chose to upgrade to premium packages. Zoom's customers with more than 10 employees surged 470% to roughly 467,100.
Zoom Video Communications' stock price pulled back sharply after its Q4 report. Image source: Getty Images.
Source Fool.com
