Zoom Beats Earnings in Q2 as Work From Home Trend Triggers Surge in Activity By Investing.com

Zoom Beats Earnings in Q2 as Work From Home Trend



By Yasin Ebrahim

Investing.com – Zoom Video Communications (NASDAQ:) (NASDAQ:ZM) reported Monday second-quarter earnings and revenue that markedly beat consensus estimates as the pandemic-led home-work-from trend boosting demand for video conference software.

The company reported earnings 92 cents, up from 8 cents a year earlier, on revenue of $663.5 million, up 355%, beating estimates for earnings of 45 cents on revenue $500.5 million.

“Organizations are shifting from addressing their immediate business continuity needs to supporting a future of working anywhere, learning anywhere, and connecting anywhere on Zoom’s video-first platform. At Zoom, we strive to deliver a world-class, frictionless, and secure communication experience for our customers across locations, devices, and use cases,” said Zoom founder and CEO, Eric S. . “Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355% year-over-year in Q2 and enabled us to increase our revenue outlook to approximately $2.37 billion to $2.39 billion for FY21, or 281% to 284% increase year-over-year.”

Growth in customers with more than 10 employees jumped 458% year-on-year, the company said.

For the third quarter, the company sees earnings in the range of 73 cents to 74 cents on revenue of $685 million to $690 million.

Shares of Zoom jumped more than 8% in after-hours trading.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Investing.com


Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME