Why Zoom Video Stock Popped Over 10% This Week

Shares of Zoom Video (NASDAQ: ZM) popped 10% this week, according to data from S&P Global Market Intelligence. The video-meeting software provider posted earnings and revenue growth that exceeded expectations in the fourth quarter. The pandemic winner is still off 87.5% from all-time highs but is improving its business fundamentals.

Here's why Zoom stock rocketed higher this week.

In the fourth quarter of last fiscal year, Zoom posted revenue of $1.15 billion and adjusted earnings per share (EPS) of $1.22. Both numbers were slightly above analyst expectations of $1.13 billion in revenue and $1.15 in adjusted EPS. A double beat is an easy recipe for a post-earnings stock pop, which is why Zoom Video was up this week.

Source Fool.com