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.
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
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