Investing.com — Video conferencing service Zoom reports on record revenue for the third quarter of 2020 — $ 777.2 million with a net profit of $ 198.4 million. The results exceeded the expectations of analysts, who expected revenue at $ 694 million, and profit — at $ 149 million.
Revenue of one of the beneficiaries of the era of the coronavirus pandemic increased almost fivefold year-on-year — in the third quarter of 2019, it amounted to only $ 166.6 million.The profit soared almost 100 times — in 2019, it was at $ 2.2 million.Adjusted profit increased to $ 0.99 from $ 0.09 per share.
However, Zoom's gross margin declined from 71% to 67% due to the company's free services. However, the number of paid subscribers of the organization is growing: over the year their number grew by 458% to 433.7 thousand corporate clients (with more than 10 employees).
Zoom shares fell 5% after the release of reports. According to analysts, this is due to the fact that investors do not expect good news from the company in 2021, when the pandemic will subside after the development of a vaccine..
The text was prepared by Yana Shebalina
Subscribe to our Telegram channel: https://t.me/ruinvestingcom
Комментарии
Отправить комментарий