Zoom Stock Skyrockets Over 40% After Blowout Quarter, And It Expects To Keep Rising

Zoom Stock Skyrockets Over 40% After Blowout Quarter, And It Expects To Keep Rising

TOPLINE

 As millions of people continue to rely on video-conferencing amid the coronavirus pandemic, Zoom is benefiting“”shares of the e-video company surged by over 40% on Tuesday morning, a day after it reported blowout second quarter earnings that easily topped analyst estimates.

Zoom is one of the best-performing stocks of 2020.



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KEY FACTS





The tech company posted revenue of $663.5 million last quarter, compared to the $500.5 million forecast by analysts, and profits of 92 cents per share (versus 45 cents per share expected).





Revenue more than quadrupled from last year, growing 355% on an annualized basis.





Zoom added more than 370,000 new