“The macroeconomic environment has deteriorated further and faster than anticipated.” Kathoomph. And Zoom gives up most of its knee-jerk mini-jump afterhours.
Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
Commercial Real Estate hit by construction boom, oil bust, pandemic, working from home, now hiring freezes and layoffs. Older office towers dish out huge losses.
