3 Key Things From Zoom's Earnings Call That Investors Should Know
Zoom Video Communications (NASDAQ: ZM) reported fiscal first-quarter 2021 results earlier this month that delighted investors, who have had a fantastic ride since the videoconferencing specialist's initial public offering (IPO) in April 2019. Shares have increased more than six times since then.
In Q1, Zoom's revenue soared 169% year over year to $328.2 million, crushing the $202.5 million Wall Street consensus estimate. Growth was driven by a huge boost in the number of people working, learning, and socializing from home because of the COVID-19 pandemic.
Adjusted net income landed at $58.3 million, or $0.20 per share, up from $8.9 million, or $0.03 per share, in the year-ago period. This result zoomed by the $0.09 analysts had been expecting.
Source Fool.com
