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Zoom Video Communications’ sales growth slowed last quarter due to additional demand for remote work and easing of the company’s video-conferencing application, as well as a pullback in the COVID-19 pandemic.

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The San Jose, Calif.-based company said its sales rose 35% from a year earlier to $1.05 billion for the three months ended October 31. Last quarter, the company’s sales grew 54%. A year ago, its sales had jumped by more than 360 percent.

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Net income for Zoom’s fiscal third quarter jumped more than 70% from a year earlier to $340 million. Wall Street analysts were forecasting sales of $1.02 billion and $337 million in net income for the quarter.

According to FactSet, for its current quarter ending January, Zoom expects total sales of $1.051 billion to $1.053 billion, better than the $1.018 billion expected by Wall Street.

anchorthe protectionThe lastChangeChange %
ZMZoom Video Communications, Inc.242.28-9.02-3.59%

Shares of Zoom were little changed in after-hours trading near $242 per share.