3/1, 10:14 PM (Source: TeleTrader)
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Zoom 2020 revenue up 326% to $2.6B

Zoom revealed its annual earnings on Monday marking a skyrocketing gain of 326% in revenue, totaling $2.6 billion. Yearly GAAP net income landed at $659 million, up 5097% compared to the same period of last year, while the earnings per share grew by 2400% to $2.25.

Fourth-quarter total revenue amounted to $882.5 million, increasing by 369% year-on-year. GAAP net income from operation during the quarter was $256.1 million, up by 2316% and the earnings per share were at $0.87, gaining 1639%, compared to the last quarter of the previous year.

"We are humbled by our role as a trusted partner and an engine for the modern work-from-anywhere environment. Our ability to rapidly respond and execute drove strong financial results throughout the year. As we enter FY2022, we believe we are well positioned for strong growth with our innovative video communications platform, on which our customers can build, run, and grow their businesses," said Eric Yuan, founder and chief executive officer of Zoom.

Zoom shares soared 10.26% in the after-hours trading, selling for $451.7.

Breaking the News / LH