Zoom shares tumble as revenue growth slows

A 3D printed Zoom logo is placed between small toy people figures and a keyboard in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) - Shares of Zoom Video Communications Inc slumped to 17-month lows on Tuesday after the video conferencing platform posted its slowest quarterly revenue growth amid stiff competition from deep-pocketed rivals Cisco, Microsoft and Salesforce.

The company on Tuesday posted a better than expected third-quarter revenue of $1.05 billion, although that came at a 35% jump compared with an astronomical 360% in the pandemic-hit year earlier.