Zoom’s stock surges 41% after earnings beat, adding over $37 billion in market cap

Zoom’s stock surges 41% after earnings beat, adding over $37 billion in market cap

Eric Yuan, CEO of Zoom Video Communications poses for a photo after he took part in a bell ringing ceremony at the NASDAQ MarketSite in New York, April 18, 2019.Carlo Allegri | ReutersZoom shares soared 41% on Tuesday, lifting the video-conferencing software company's market cap to $129 billion after revenue and earnings blew past analysts' estimates.The rally added $37 billion of market value to Zoom, which went public in April 2019 and was worth about $16 billion after its initial day of trading. The company has been perhaps the biggest corporate beneficiary of the coronavirus pandemic, as employers across the globe have turned to the video chat technology to stay connected with staffers, customers and partners. Revenue in the period surged 355% to $663.5 million, topping the $500.5 million average estimate