Zoom Earnings: Will They Keep the Stock's Coronavirus-Fueled Surge Going?
Zoom Video Communications (NASDAQ: ZM) is slated to report its first-quarter results for fiscal 2021 after the market close on Tuesday, June 2.
Investor expectations are high. Investors have driven shares of the unified-communications platform provider up 54% since its last quarterly report was released on March 4. The S&P 500 has returned negative 2% over this period. In 2020, Zoom stock is up 164% -- while the broader market is down about 5% -- making it one of best-performing "coronavirus stocks."
Indeed, investor optimism stems largely from the COVID-19 pandemic. The global crisis has caused a surge in the number of people working from their homes due to U.S. states and many countries issuing shelter-in-place orders to help slow the spread of the virus. This dynamic, in turn, has driven demand by businesses and other entities for Zoom's communications products to enable their employees to work from home.
Source Fool.com
