Business

Zoom sees the business boom expanding beyond a pandemic

Wall Street may expect workers to become less dependent on Zoom Call as the Covid-19 vaccine is deployed, but video conferencing startups showed surprisingly strong performance last quarter. , Predicted faster growth than expected for 12 months.

The news raised Zoom’s stake by 10% in an aftermarket transaction on Monday, valuing it at $ 131 billion.They are still more than 20 percent below the highest point they touched last October before investors began to look to deregulation this year.

Zoom’s revenue surged to $ 883 million in the three months to the end of January, up from $ 188 million in the previous year, up 9% above most analysts’ expectations. According to the company, it currently has 467,100 customers with more than 10 employees, about five times more than it was before the pandemic.

Proformer earnings per share, after deducting stock-based compensation, rose from 15 cents a year ago to $ 1.22, 43 cents higher than expected. Under formal accounting rules, Zoom’s net income increased from $ 15 million to $ 260 million, or 87 cents per share.

Despite predicting that the service will not play a very central role in the lives of many workers and students in 2021, Zoom’s revenues will increase by 43% next year to 3.7 billion. He said he expects it to go from $ 60 million to $ 3.78 billion. Wall Street’s forecast is about $ 3.5 billion.

We also predicted that pro-former earnings per share would be between $ 3.59 and $ 3.65, higher than analysts invested $ 2.96 per share.

Zoom sees the business boom expanding beyond a pandemic

Source link Zoom sees the business boom expanding beyond a pandemic

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