By Kathryn Hardison

 

Shares of Zoom Video Communications Inc. fell 8.9% to $88.75 in after-hours trading on Monday after the video communications platform company lowered its full-year outlook amid a weakening of its online business.

Zoom benefited during the Covid-19 pandemic, when lockdowns and other restrictions had many people working from home. Zoom's video conference call technology replaced in-person meetings and helped keep workers connected.

The company had expected adjusted earnings per share between $3.70 and $3.77 on revenue between $4.53 billion to $4.55 billion for the fiscal year ending in January.

On Monday, Zoom guided for adjusted earnings per share of $3.66 to $3.69 on a revenue midpoint of $4.39 billion.

The company said its second-quarter sales were hit by the strong dollar and the weakening of its online business as people return to work and rely less on video conference calls.

 

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

August 22, 2022 18:10 ET (22:10 GMT)

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