Clearpost.online It's your post, so post it!

(Reuters) -Zoom Video co*munications Inc on Monday cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off from pandemic highs, sending its shares down over 7% in extended trading.

Analysts have raised concerns about the co*pany’s prospects as co*peting platforms such as Microsoft’s Teams, Cisco’s WebEx and Google’s Meet fight for video-conferencing market share.   

Zoom has an uphill task onboarding large clients, which contribute more than $100,000 in revenue, to sustain its pandemic-levels of growth at a time when co*panies are struggling with decades-high inflation.     

The co*pany forecast revenue between $4.39 billion and $4.40 billion, co*pared with its earlier outlook of $4.53 billion to $4.55 billion.   

San-Francisco-based Zoom now expects annual adjusted profit per share between $3.66 and $3.69, co*pared with $3.70 to $3.77 forecast earlier.

Founded by former Cisco manager Eric Yuan, Zoom reported its slowest revenue growth on record, up 8% at $1.1 billion in the second quarter, snapping an estimate-beating streak since it went public.  

Finance chief Kelly Steckelberg said revenue was hurt by a stronger dollar, performance of the online business and reduced sales towards the closing half of the quarter. 

The co*pany’s adjusted earnings per share of $1.05 topped market expectations, even as its quarterly operating expenses grew 51% to $704 million as it invests in products to sustain demand.

(Reporting by Eva Mathews in Bengaluru;Editing by Vinay Dwivedi)