The coronavirus has put on the map Zoom who has known how to take advantage of the new situation. So much so that its shares have advanced more than 365% so far this year. But you are not just making money on the floor, reported revenue of $ 664 million.
The good figures have encouraged investors to continue buying and their titles are advancing about 10% in the 'afterhours' of Wall Street, which includes the operations after hours. And is not for less, the figure is 33% higher than expected.
"At Zoom, we strive to provide a world-class, frictionless, secure communication experience for our customers across locations, devices, and use cases," explained Zoom founder and CEO Eric S. Yuan in a release.
“Our ability to keep people around the world connected, coupled with our strong execution, has generated 355% revenue growth in the second quarter and it has allowed us to increase our perspective of income ", has detailed Yuan.
Analysts were very optimistic about Zoom. To such an extent that Morgan Stanley pointed out a few days ago that expected the company to exceed consensus estimates by about 30%. That's despite the company's forecast of around $ 500 million in revenue for the quarter sent analyst estimates skyrocketing.
Not only is the revenue figure to celebrate, so is the number of users. Currently Zoom has approximately 265,400 clients, a figure four times higher than last year. A fact that is more spectacular, if possible, if one takes into account that it barely has 10 workers.
It is not the first time that Zoom has registered accounts that beat all expectations, it also did so last quarter, the first after the pandemic was declared. So revenues soared with a growth of 169% and the company doubled its sales expectations for the entire year.