Zoom revenue grew 169% during the quarter, and the company doubled its revenue guidance for the year

on Tuesday, and nearly doubled its revenue guidance for the full year, as the coronavirus pandemic drove millions of new customers to the video calling service and turned it into a household name.

The company also significantly increased its guidance for the fiscal year. It now expects $1.21 to $1.29 in adjusted earnings per share on $1.78 billion to $1.80 billion in revenue. In March, it had forecast 42 cents to 45 cents in EPS on $905 million to $915 million in revenue. In keeping with its previous practices, the company did not disclose active user numbers. However, Bernstein analysts Zane Chrane and Michelle Isaacs, who have the equivalent of a buy rating on Zoom stock, estimated that the Zoom's mobile app had 173 million monthly active users as of May 27, up from 14 million on March 4, citing data from app-analytics company Apptopia.

"Moving forward, as we build additional capacity in our own data centers, we expect to gain some efficiencies, bringing gross margin back toward the mid-70s in the next several quarters ahead," Steckelberg said, adding that the company expects to increase capital expenditures for data center equipment.

Just back out the costs duh

It will be up in the morning, monies are flooding the America.

Not to mention that the company is currently trading at 2.300x PE and 100x PS.....pretty cheap, neh....

CryptoCrewNews I wouldn’t pay anything over 90 for this piece of

I am a bit concerned about their software security and ties to Beijing

Because their crap is insecure

I’m sure the fact it trades 40x full year revenue has nothing to do with it.

No worries. Stealing trade secrets, insider trading info... from all those private meetings will make it all worthwhile in the end.

Fair value is about $100 south of where it’s trading.

A small bump for a company who’s future is going to be well integrated in the working society

United States United States Latest News, United States United States Headlines

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

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 »