2. Zoom on course to win 2020
Zoom Video Communications (NASDAQ:ZM) cemented its place as one of the biggest winners of 2020, reporting quarterly earnings that were far ahead of even the most optimistic forecast and substantially raising its guidance for the full year.
The company reported a 355% increase in revenue from the same period a year ago to $663 million, more than the whole of its fiscal 2020 year that ended in January. Net profit rose to $186 million from $6 million a year earlier.
The numbers suggest that Zoom has more than met the challenge of scaling up rapidly in the face of an unimaginable surge in demand over the last six months. Its corporate customer base has more than quadrupled from a year earlier.
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