Zoom revenue jumps fourfold with shares soaring nearly 50%
Zoom had the second-largest sales surge among Nasdaq 100 companies last quarter, as businesses and users flock to video-conferencing
San Francisco — Zoom Video Communications reported the second-largest sales surge among Nasdaq 100 companies last quarter, providing an emphatic demonstration that businesses and consumers have continued to flock to the video-conferencing service in even larger numbers than expected. Shares soared as much as 47% on Tuesday.
Revenue jumped more than four times to $663.5m in the fiscal second quarter from a year earlier, the California-based company said in a statement on Monday. Analysts, on average, projected $500m. Biotech firm Moderna is the only Nasdaq 100 company to have reported a larger sales gain in a similar period, according to data compiled by Bloomberg. Earnings, excluding some items, were 92c a share in the period ended July 31, compared with analysts’ estimates of 45c...
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