Zoom Video Communications blew Wall Street’s expectations out of the water on Monday.
The remote work video platform reported fiscal second-quarter earnings showing that revenue was more than four times higher this year than last.
According to Markets Insider, shares of Zoom skyrocketed as much as 38% in premarket trading Tuesday.
Zoom’s adjusted earnings per share were 92 cents, versus 45 cents expected. Revenues were $663.5 million, versus $500.5 million expected.
The company says revenue was up 355% from the same quarter a year ago, fueled by adding new users and expanding across existing customers.
