Zoom shares drop as big client additions fall short, growth concerns mount

The firm missed predictions for big clients last quarter as well

Zoom Video Communications Inc. shares fell in late trading after the video-conferencing company reported a smaller-than-projected number of large customers for a second straight quarter, stoking concerns about growth as more workplaces and schools open back up.
 

The company had 512,100 customers with more than 10 employees in the third quarter, an increase of 18% from a year earlier, according to a statement from San Jose, California-based Zoom. said Monday in a statement. That missed the average analyst estimate for 516,174, according to data compiled by Bloomberg.

Gains in this closely watched measure have been narrowing -- last quarter, Zoom also