Late on Aug 31, the video-conferencing company posted strong July-quarter sales results that handily beat Wall Street estimates. — AFP
Sometimes the little guy with the better mousetrap can beat the tech Goliaths. That is certainly the case with upstart Zoom Video Communications Inc this year.
Late on Aug 31, the video-conferencing company posted strong July-quarter sales results that handily beat Wall Street estimates. Zoom reported second-quarter revenue of US$663.5mil (RM2.75bil), up 355% from a year earlier, versus the US$500mil (RM2.07bil) Bloomberg consensus. It also projected a sales range of US$685mil (RM2.84bil) to US$690mil (RM2.86bil) for the current quarter, which is higher than the US$493mil (RM2.04bil) average analyst estimate. Zoom shares rose in after-hours trading, adding to their more than fourfold gains year to date.
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