Promising quarterly earnings for ZOOM in Q3

December 01, 2020

ZOOM showed resilience in Q3

The company that became a redoubtable competitor to Microsoft – ZOOM - reported Q3 2021 figures that showed the pandemic’s positive impact on the business.

In the past quarter, ZOOM had revenues of $777.2 million, topping the $694 million forecasted. At the same time, its adjusted EPS hit 99 cents, beating the 76 cents estimated. Compared to last year’s figures, the revenue increased by 367% as people are still working from home due to the new wave of COVID-19 infections.

The company also reported a staggering 629% increase in subscriptions in Europe, Africa, Asia-Pacific, and the Middle East. The subscriptions made up for over 80% of ZOOM’s overall revenue.

IN Q4, ZOOM expects an adjusted EPS of 79 cents and revenues of $811 million. Moreover, ZOOM will be available on home-devices made by Google, Amazon, and Facebook.

Year-to-date, ZOOM stock price surged 591%, while USA500 went up 12%.

Sources: cnbc.com

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