Zoom founder Eric Yuan reacts at the Nasdaq opening bell ceremony on April 18, 2019 in New York City. The video-conferencing software company announced it's IPO priced at $36 per share, at an estimated value of $9.2 billion.The company also announced a fourth-quarter forecast above what analysts had expected.
A relative upstart before the pandemic hit, Zoom quickly became a household name globally as a desperately needed, easy-to-use video conferencing platform for schools and offices forced to work remotely. The company expects fourth-quarter revenue of between $806 million and $811 million, above estimates of $730.1 million, according to IBES Refinitiv data.
Revenue for the third-quarter ended Oct. 31 surged 367% to $777.2 million, beating analysts' average estimate of about $694 million. Net income attributable to common stockholders jumped to $198.4 million, or $66 per share, from $2.2 million, or 1 cent per share, a year earlier.
nice