Zoom Video earnings and sales blow away expectations, stock rises toward more records

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 23%
  • Publisher: 97%

Zoom executives expect the company's astounding growth to continue.

United States Headlines News

United States Latest News, United States Headlines

Zoom Video Communications Inc. became a household name during the pandemic, and it showed off the financial effects of its growth Tuesday — record sales and earnings, and expectations for more amid booming stock prices.

Revenue improved 169% to $328.2 million from $122 million a year ago. Analysts surveyed by FactSet had expected adjusted earnings of 9 cents a share on sales of $230.6 million. Underscoring its growth, more than 3,000 people attended a Zoom meeting with analysts late Tuesday. During the call, Yuan said, “Video is going to change everything about communication. We have a lot of opportunities ahead of us. The [total addressable market] is bigger than we expected before.”

Shares of the videoconferencing platform, which had gleaned record usage of 300 million daily meeting participants as of late April, rose more than 4% in after-hours trading following the announcement before declining 2%. As Zoom’s use has skyrocketed, so has its market capitalization, which crossed $50 billion for the first time Friday. Shares — which sold for $36 in its 2019 initial public offering — closed higher than $200 for the first time Monday and rose 1.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

With less employees and reopening of economies, this won't happen. Don't kid yourself. Much of the demand was seasonal and whilst there will be retention of some business, it will taper off. Much like gym equipment, toilet rolls and handwash sales

많은 논란에도 불구하고, 한국 문재인정부는 줌을 채택하여 그들의 성장을 돕고있다.

5 years from now, it'll be called 'HP Zoom', and we'll all forget we ever used it.

This is when numbers speak for themselves is appropriate.

Microsoft

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zoom Video could hit even higher highs after 200% rally this year, traders sayZoom Video, one of the hottest stocks this year, rallied even more on Tuesday heading into its earnings report. Here's what to watch. TradingNation Complete proof the market is totally fake and not based on fundamentals. TradingNation Yes, trap more lemmings and permabull nitwits
Source: CNBC - 🏆 12. / 72 Read more »

Zoom Lifts Full-Year Sales Outlook as Coronavirus Boosts DemandThe company’s sales more than doubled in the first-quarter, as a surge in users working remotely during the coronavirus pandemic turned the video-chat app into one of the go-to tools for people quarantined at home. I wonder if some black lives matter than others. And this question goes to CNN, BBC, ABC, NBC &NYT. Why would black people shoot our fellow Black police men all in the name of looting, stealing & destroying our own black peoples propertys SayNoToViolence The CCP collection of personal info also doubles. BoycottChineseProducts Did Kelly Loeffler buy stock?
Source: WSJ - 🏆 98. / 63 Read more »

Video shows truck drive through protesters - CNN VideoA truck driver has been arrested after driving 'with nearly full force into a crowd of peaceful protesters' in Minnesota, according to Governor Tim Walz Peaceful? Yeah buddy..... It was all peaceful in Minnesota Eye roll wtf MAGA
Source: CNN - 🏆 4. / 95 Read more »

Zoom skyrockets 15% to an all-time high ahead of quarterly earnings - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. God knows what Skype where doing, they had a 17 year head start. Zoom quickly came in and ate Skype's lunch.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The skincare products Kate Middleton uses to look fantastic on zoom callsThe Duchess of Cambridge uses these beauty products to maintain her radiant skin, including moisturisers, oils and face flannels - and some of them are super cheap! Shop the products - from Nivea, Trilogy, Karin Herzog, Beuti Skincare, Lancome and more.
Source: hellomag - 🏆 24. / 68 Read more »

Dear Aquarius, Gather Your Coven to Cast Some Zoom Spells This WeekWe all need a little magic.
Source: TeenVogue - 🏆 481. / 51 Read more »