Zoom Video Communication continued its narrative as one of a few companies fortunate enough to thrive during Covid-19, reporting total revenue of $328.2 million Tuesday, a gain of 169% over the prior-year period.
The San Jose-based company reported its results for its fiscal 2021 first quarter, which ended April 30, after the close of trading on Tuesday. Earnings per share of 9 cents increased from zero cents in the same quarter a year ago. The revenue number soared above the consensus estimate of Wall Street analysts, who expected $202.5 million, while the earnings number hit the target exactly.
The company’s shares have been rising steadily as the earnings release has approached. They closed Tuesday at $208.08 after setting an all-time high during the trading day at $212.69. In 2020 to date, they have risen more than 200%. The company went public in April 2019, trading at $62.
“We were humbled by the accelerated adoption of the Zoom platform around the globe...
The San Jose-based company reported its results for its fiscal 2021 first quarter, which ended April 30, after the close of trading on Tuesday. Earnings per share of 9 cents increased from zero cents in the same quarter a year ago. The revenue number soared above the consensus estimate of Wall Street analysts, who expected $202.5 million, while the earnings number hit the target exactly.
The company’s shares have been rising steadily as the earnings release has approached. They closed Tuesday at $208.08 after setting an all-time high during the trading day at $212.69. In 2020 to date, they have risen more than 200%. The company went public in April 2019, trading at $62.
“We were humbled by the accelerated adoption of the Zoom platform around the globe...
- 6/2/2020
- by Dade Hayes
- Deadline Film + TV
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