top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

23 Nov 2021

Zoom Stocks Slump as Client Addition Slows

The Index Today

In Tuesday’s premarket trading, Zoom stocks fell short by 8% after new client addition numbers failed to meet the expected forecast for the quarter.


The company reported an increase of 18% with additional 10 new employees, totaling to 512,100 customers. Growth in users was 36% for the second quarter which point towards the company’s inability to keep growth at the same levels seen during the early pandemic.


During the pandemic, zoom became a popular video-conferencing program as work-from-home demands increased. However, the programs ability to increase users and remain popular in the long run is being questioned as rivals such as Google and Microsoft offer more services. Zoom gave users new services which include the Zoom Phone, a cloud-calling service and Zoom Rooms, designed for in-office meetings. Such additions were aimed at increasing overall user base. Sales for the third quarter were recorded at $1.05 billion, reflecting an increase of 35%.

©Photo: REUTERS/Dado Ruvic/Illustration

Clay pottery with table linens
bottom of page