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The digital communications company reported better-than-expected third quarter earnings but projected a revenue decline as the Pandemic wears off and people return to in-person work.
The company's stock was trading at $200.93 at 10:36 a.m. On Tuesday.
The company reported $1.11 earnings per share, beating estimates. It had a net income of $340.3 million in the first quarter of this year.
Revenue grew at a slower pace in the prior quarter, but still jumped over the year.
The communications company had 512,100 customers with more than 10 employees in October, an increase of 18%, but less than in the second quarter. The company's user growth trajectory is slowing as more people trickle back to the office.
Experts are looking at the company's use among larger customers and whether it will be able to compete with giants like Microsoft and Alphabet, which both offer similar services.
For the fiscal fourth quarter, the company expects adjusted earnings to be between $1.06 and $1.07 per share.
Business Insider has an original article.
