Zoom shares soar as earnings rocket | Malay Mail

📆 2020/09/01 13:24:00
📰 malaymail

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SAN FRANCISCO, Sept 1 — Zoom shares soared on Monday after the video-meeting service reported that quarterly revenue rocketed as its ranks of users more than quadrupled. The Silicon Valley-based company that has become a popular way to work, learn or socialise during the pandemic said it made a...

Zoom said it made a profit of US$186 million on revenue of US$663.5 million in the quarter that ended on July 31.. — Reuters pic

Zoom shares were up more than 22 per cent in after-market trades that followed release of the earnings, which beat market expectations. “It is the survival of the adaptable, only Stone Age companies are insisting employees to physically come to work,” Global Equities Research analyst Trip Chowdhry said in a note to investors, calling Zoom a “cultural phenomenon.”

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