Cathie Wood’s Genomics Fund Is Down 27% and Outflows Are Growing
Zoom shares fall after results as Wall Street turns cautious on growth
Revenue was at $1.05 billion in the quarter ended Oct. 31, Zoom said, after rising 54% in the previous quarter and surging 360% a year earlier. Moreover, stiff competition posed by Cisco’s conferencing tool Webex and Microsoft’s Teams has made it challenging for Zoom to win over enterprise customers. To retain its users, the company launched a variety of new offerings such as Events platform, where businesses can host large-scale conferences, cloud-calling service Zoom Phone and in-office meetings feature Zoom Rooms.