Deadline Hollywood reports:
Zoom Video Communication continued its narrative as one of a few companies fortunate enough to thrive during COVID-19, reporting total revenue of $328.2 million Tuesday, a gain of 169% over the prior-year period.
The company’s shares have been rising steadily as the earnings release has approached. They closed Tuesday at $208.08 after setting an all-time high during the trading day at $212.69. In 2020 to date, they have risen more than 200%. The company went public in April 2019, trading at $62.
Lasting changes in the workplace and educational systems will continue to boost revenue going forward, Zoom said. The company’s forecast for full-year fiscal 2021 revenue is $1.8 billion.