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Why Zoom Stock Plunged Today

TheMotleyFool 
0 0 03.03.21
Why Zoom Stock Plunged TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png
 

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.

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Source Fool.com

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