Zoom, a video conferencing platform, jumped 43.88% to $467.75, giving it a market capitalization of more than $130 billion.
Zoom's revenue was $663.5 million in the second quarter, up 355% from the same period last year. Analysts had previously predicted that Zoom's second-quarter revenue would be $500.5 million. Second-quarter adjusted earnings per share were 92 cents, more than double analysts'earnings-per-share forecasts of 45 cents. Zoom's second-quarter net profit was more than three times that of the previous six quarters combined.
The number of customers contributing more than $100,000 to Zoom's revenue increased to 988, a doubling from the same period last year. Yuan Zheng, chief executive of Zoom, said on the earnings call that Exxon, Activision, ServiceNow are Zoom's customers.
As the coronavirus epidemic continues, Zoom will, through hard work, play a role in global communication at this challenging time, Yuan said.
Zoom also raised its performance expectations for the full fiscal year 2021. Revenue is expected to reach $2.37 billion to $2.39 billion. That would mean a median year-on-year revenue growth of 282%, better than analysts'forecasts of $1.81 BN.
Zoom is now one of the 20 most valuable technology companies in the United States, more than twice IBM's and more than twice VMware's.
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