pandemic covid-19 2020 vaccine

Zoom Video Communications Obliterates Quarterly Earnings Estimates

Reading now: 905
deadline.com

Zoom Video Communications, perhaps the ultimate corporate poster child of Covid-19, posted another blockbuster quarter of financial results.The videoconferencing specialist said its profit in the quarter ending October 31 came in at 99 cents a share, well ahead of Wall Street analysts’ consensus expectation for 76 cents.

Revenue more than quadrupled to $777.2 million, far better than analysts’ forecast for $694 million.Shares in Zoom finished the trading day at $478.36, up more than 1% but then fell back 5% after the earnings results were released.

The stock has rocketed more than 600% in 2020 as the company’s technology has become a bedrock of the pandemic operating environment for companies, schools and institutions of every stripe.The

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA