The New Paper

December 1, 2020

Zoom announces Q3 earnings, with revenue increasing nearly 4x

Video conferencing company Zoom reported a 367% increase in quarterly revenue yesterday, marking the second consecutive quarter with over 350% year-over-year growth. The growth comes amid surging demand for video conferencing and collaboration tools driven by the ongoing coronavirus outbreak.

Extra: While the earnings largely outpaced analyst expectations, Zoom shares opened down 10% today after the company forecasted slightly decelerating growth for Q4. Zoom’s stock price is up over 500% so far this year.

This story is from the December 1, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.