By Kimberly Chin

Zoom Video Communications Inc.'s shares tumbled roughly 4% in after-hours trading Monday to $458 despite topping profit and sales expectations in the third quarter due to an increase in customers who use the platform for remote work.

The videoconferencing company's net profit was $198.4 million, or 66 cents a share, up from $2.2 million, or 1 cent a share, in the year-ago quarter. Adjusted earnings were 99 cents a share. Analysts polled by FactSet were expecting adjusted earnings of 76 cents a share.

Revenue more than quadrupled to $777.2 million from a year ago. Analysts were looking for $693.6 million.

Total operating expenses more than doubled from a year earlier to $326.2 million.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

November 30, 2020 16:51 ET (21:51 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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