Shares up more than 32% after revenue jumps more than four times to US$663.5 million
Zoom gave a forecast suggesting the explosive growth will continue. The company said sales will be as much as US$2.39 billion in the fiscal year ending in January — meaning revenue would almost quadruple in just one year. Analysts, on average, expected sales of US$1.81 billion. Zoom previously projected fiscal-year revenue of US$1.8 billion.
Shares rose to a high of US$434.49 in premarket trading after closing Monday at a record US$325.10 in New York. The stock, which entered the public markets in April 2019, has increased more than fourfold this year. Zoom now has 370,200 business customers with more than 10 employees, a more than fivefold surge from a year earlier. There are now 988 clients spending more than US$100,000 on Zoom services, more than double the figure from a year ago.
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