Coronavirus: Zoom Video leads local stock gains on reopening hopes

Coronavirus: Zoom Video leads local stock gains on reopening hopes

4 years ago
Anonymous $-9GJQVHNr8

https://www.siliconvalley.com/2020/06/03/coronavirus-zoom-video-leads-local-stock-gains-on-reopening-hopes/

Bay Area stocks largely rose Wednesday amidst more hopes for the economy opening up, with Zoom Video Communications shares posting sizable gains after the company reported a huge rise in demand for its videoconferencing services during the coronavirus  pandemic.

Zoom’s shares surged by almost 6%, to $220.22, after the San Jose-based company said late Tuesday that its first-quarter revenue rose by 169% from a year ago, to $328.2 million, and that it now has 265,400 customers with more than 10 employees, an increase of 354% from the first quarter of 2019.