Zooms share price soared nearly 41percent, becoming one of the top 20 technology companies in the United States

category:Internet
 Zooms share price soared nearly 41percent, becoming one of the top 20 technology companies in the United States


The companys initial public offering (IPO) in April 2019 and its market value was about $16 billion as of the date of its listing. The share price soared on Tuesday, adding $37 billion to the companys market value.

According to refinitiv, zooms second quarter revenue was $663.5 million, up 355% year-on-year. Previously, analysts had predicted that zooms second quarter revenue would be $5005 million. Adjusted earnings per share in the second quarter was 92 cents, more than twice the analysts forecast of 45 cents per share. Zooms second quarter net profit was more than three times the total of the past six quarters.

The number of customers who contributed more than $100000 to zooms revenue increased to 988, double the same period last year. Exxon, video game developer Activision and servicenow are all zoom customers, zoom Chief Executive Yuan Zheng said on a earnings call.

Yuan Zheng said that as the new coronavirus epidemic continues, zoom will work hard to play a role in global communication in this challenging period.

Zoom also raised its forecast for the entire fiscal year 2021. Revenue is expected to reach $2.37 billion to $2.39 billion. This means that the median annual revenue growth rate will reach 282% year-on-year, better than analysts expected revenue of $1.81 billion.

Zoom is now one of the 20 most valuable technology companies in the United States. Its market value is now higher than that of IBM and more than twice that of VMware. (Tianmen Mountain)

Source: Qiao JunJing, editor in charge of Netease science and Technology Report_ NBJ11279