- According to CNBC, video conferencing company Zoom is asking all employees to work from home due to concerns about the coronavirus.
- Prior to this, Zoom reported that the fourth quarter financial report exceeded expectations, but after investors expected growth rates to increase, the stock still dropped the stock price by more than 10%.
- Zoom's stock price has skyrocketed since the corona virus outbreak, Investors bet that more people will use video conferencing tools, Send user number.
Concerns about coronavirus disease COVID-19, video conferencing company Zoom asked all its employees to work from home, a disease that has spread to the company's California state.
Prior to this, Zoom announced its fourth quarter financial results, which exceeded Wall Street expectations, but still saw the stock fall by more than 10%, and then make up for some losses-the reason for the decline is clearly investors expecting higher growth rates.
Based on the prepared speech, CEO Eric Yuan is expected to say on a conference call with analysts this afternoon: "I am pleased to report that all our employees in the affected area are healthy" . CNBC report. "Given the recent increase in the number and incidence of coronaviruses in the United States, we have instructed headquarters employees to work from home unless there is a critical business need to work in the office."
Zoom's stock price has skyrocketed since the corona virus outbreak, Investors bet that more people will use video conferencing tools, so Send user number. To date, Zoom shares have risen about 70%.
Last week, Zoom cancelled the 40-minute time limit for each video conference of its free product in China to help people affected by the corona virus outbreak. Eric Yuan, CEO of Zoom, who grew up in Shandong Province, China, Say he wants to do something to help those affected Because the virus disrupts daily affairs, business operations and school curricula.
According to CNBC, Wall Street firm Bernstein Research estimates that Zoom has attracted more new active users this year than last year due to the coronavirus.
Among the earnings released on Wednesday, Zoom said revenues have increased 78% from the same period last year to $ 188.3 million. This quarter, the number of customers paying more than $ 100,000 per year was 641, an increase of 86% over the same period last year.
This is what the Zoom report says:
- income: $ 188.3 million. Analysts on average expected $ 175.8 million.
- Earnings per share [adjusted]: $ 0.15. Analysts forecast $ 0.07.
- Revenue [next quarter]: It is estimated at $ 191.9 million to $ 201 million. Analysts had previously expected $ 185.4 million.
- Earnings per share [adjusted for the next quarter]: Estimated $ 0.10. Analysts forecast $ 0.06.
- Customers have earned more than $ 100,000 in the past 12 months: 641 customers increased 86% from the same period of the previous fiscal year.