Zoom earnings skyrocket, stock prices hit record highs

The company’s income in May-July increased by 355%.

 

Zoom’s revenues and profits saw a record increase during the quarantine due to the novel coronavirus pandemic. The value of the company also grew at a record, so, at the close of trading on August 31, one share of the company was worth $ 325.1, BBC reports.

It is noted that revenues for May-July of this year increased by 355% – to 663.5 million dollars. This figure exceeded analysts’ forecasts by half a billion. Zoom’s net profit rose to 186 million and users grew 458% year-over-year.

The key to the company’s success was the connection of large solvent corporate clients. They brought in over $ 100 million to Zoom last year. This year the number of such clients has doubled.

At the same time, the growth in the number of customers has put the company’s infrastructure on the brink of endurance. Distance learning in schools resumed in the United States last week, and Zoom’s connection began to experience problems.

The service’s reputation has also been damaged by hacker attacks during video conferences. Zoom also has problems with its ties to China, where the company employs over 700 workers.

Subscribe to our Telegram channel with news of technology and culture.

Previously, cybersecurity experts from Cyble bought Zoom accounts on the darknet from a Russian- speaking user Telegram. Some of the accounts were owned by Cyble customers, so the company was able to verify its authenticity.

News Room
News Roomhttps://www.megalopreneur.com
Stories under this byline are written/directed/published by the staff and editorial board of MegaloPreneur magazine. Some of the MegaloPreneur journalists may also be involved in investigating and finding facts.

Your Comment

Discover

Sponsor

spot_imgspot_img

Latest

The doctor has applied for the Miss BumBum pageant, no one wants to hire her anymore

Souza was one of the favorites last year Model and doctor Ryan Laura Souza, 26, who lives in Bolivia last year, applied for the Miss...

Romina Malaspina, the sensual woman who makes all men sigh

The beautiful model was born on July 7, 1994, in Mar del Plata. Her beauty and way of being led her to be part...

Until yesterday, everyone in Croatia laughed at Aleksandra Prijovic, and today they are crazy about her songs

Even these days, the trend on YouTube in Croatia is not surprising - young Croats on this platform mostly listen to Serbian turbo-folk hits...

SEKA ALEKSIC BANNED IN THE MEDIA BECAUSE OF THIS- The singer answered and said only one thing

Seka also revealed that her older son Jakov is now in the growing up phase when he is very restless, but that she tries...

Emina Jahovic admitted that she did not have an easy life- I was the target, I was tried

Singer Emina Jahovic has often been the subject of gossip due to her divorce from Mustafa Sandal Singer Emina Jahovic has often been the subject...