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Zoom Video Communications Inc warned on Monday its gross margins would remain under pressure going into 2021 as the surging number of free users of its video conferencing service makes it hard to offset a spike in costs to maintain its growth.
Shares of the company, which have risen about sevenfold this year fueled by the meteoric rise in demand in video conferencing for work, school or socializing due to the COVID-19 pandemic, fell 5 per cent after the bell, despite upbeat fourth-quarter forecasts.
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