In the third quarter, the company expects flat sequential revenue of around $1.1 billion, with adjusted earnings of just $0.82 to $0.83 per share. However, shareholders really didn't like Zoom's projections for the rest of its fiscal year. Net dollar expansion rates among the enterprise customer base came in at 120%, and Zoom counted 37% more customers spending at least $100,000 over the past 12 months on its service.

Customer counts on the enterprise side were up 18% to more than 204,000. The resulting $1.05 per share in adjusted earnings compared unfavorably to last year's $1.36 per share figure. Adjusted income of $323.5 million was down 22% from the year-ago period. Sales of $1.10 billion were up just 8% year over year.

Revenue growth for Zoom slowed nearly to a standstill, and its bottom line took a big hit. The video specialist didn't give investors the results they had wanted to see, and it expects that its immediate future could be uncertain for quite a while. Shares of Zoom Video Communications were down 8% in after-hours trading late Monday afternoon, adding to the 2% decline it suffered during the regular trading session. Here's a closer look at both of these companies. However, another key player in the cloud space, Palo Alto Networks ( PANW -1.08%), fared much better. After the closing bell, the losses continued for video-conferencing specialist Zoom Video Communications ( ZM -1.18%), which released its latest financial report.

Zoom stock motley fool