Zoom chief financial officer Kelly Steckelberg said during a post-earnings call that the company's online business would decline nearly 8% during the year.
The easing of pandemic-related restrictions across the world is also weighing on its business as people started spending less time online. Zoom now expects annual revenue to be between $4.37 billion and $4.38 billion, compared with an earlier outlook of $4.39 billion and $4.40 billion.