Zoom has been a darling of the work-from-home culture brought on by coronavirus, and the company's revenue growth accelerated in its most recent quarter.
Many people have flocked to Zoom in recent months to virtually meet with colleagues, classmates, friends and family members as the coronavirus has continued to spread.Kena Betancur | Getty Images
shares rose as much as 7% before dropping back to baseline after the videoconferencing software company reported major revenue growth during its fiscal first quarter on Tuesday.Analysts surveyed by Refinitiv had expected 9 cents in adjusted earnings per share and $202.7 million in revenue for the quarter, which ended Apr. 30.
The company's revenue grew 169% on an annualized basis in the quarter, according to a statement. Growth accelerated from 78%Zoom shares are up about 205% since the beginning of the year, not including today's after-hours trading. The stock climbed higher in March as millions of people were ordered to shelter-in-place at home, even as major indexes fell and
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zoom plans to roll out strong encryption for paying customersZoom has attracted millions of free and paying customers amid the pandemic, in part because users could join a meeting - something that now happens 300 million times a day - without registering.
Read more »
Zoom Comedy Show Bookers Need to Look Outside Their Own NeighborhoodsWith no physical limitations, digital comedy shows should book beyond their neighborhoods. It doesn't have to be the same NYC and LA comics with industry connections all the time.
Read more »
Zoom Video could hit even higher highs after 200% rally this year, traders sayZoom Video, one of the hottest stocks this year, rallied even more on Tuesday heading into its earnings report. Here's what to watch.
Read more »
Dear Aquarius, Gather Your Coven to Cast Some Zoom Spells This WeekWe all need a little magic.
Read more »
The skincare products Kate Middleton uses to look fantastic on zoom callsThe Duchess of Cambridge uses these beauty products to maintain her radiant skin, including moisturisers, oils and face flannels - and some of them are super cheap! Shop the products - from Nivea, Trilogy, Karin Herzog, Beuti Skincare, Lancome and more.
Read more »
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.
Read more »