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
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