Shares of Zoom Video Communications, the developer of the cloud platform for video conferencing – soared by 25.5% after the close of the main trading session on August 31, to $ 408. Investors’ attention was drawn to the reports of companies for the second quarter of the current financial year (ended July 31).
In three months, Zoom’s revenue increased by 355% compared to the same quarter last fiscal year, to $ 633.5 million. This result is on 32% higher than the expectations of experts. Notably, that in just one quarter the developer earned more money than for the whole of 2019, when sales amounted to $ 622.7 million.
Such dynamics of Zoom revenue clearly shows how popular cloud services and software developers became during the COVID-19 pandemic.
“The coronavirus pandemic immediately turned Zoom from a niche application for companies into a tool that many Americans began to use to stay in touch with colleagues, family and friends,” writes The Wall Street Journal.
On Monday, the company said that the number of its corporate customers with more than ten employees over the past year increased by 458% to 370.2 thousand. In addition, the service has increased the number of customers who have spent on Zoom services more than $ 100 thousand. In total, such “elite” users increased by 200 and now about 1 thousand.
Despite strong interest from individuals, Zoom makes the lion’s share of money for large transactions with corporate clients. Small customers mostly prefer the free version of the platform, which limits the prospects for growth of revenue.
Zoom’s management has raised its revenue forecast for the current fiscal year from $ 1.78-1.8 billion to $ 2.37-2.39 billion. In the third – current – quarter, the company expects to raise $ 685-690 million.
The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]
By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]
IT giant Google and Singapore’s state-owned investment company Temasek have invested in Indonesia’s largest online store Tokopedia, writes Nikkei Asian Review. The amount of investments is not disclosed. In October, Bloomberg reported that Tokopedia was going to raise about $ 350 million from Google and Temasek. This is Google’s second investment in the Indonesian unicorn. […]
The French company has developed an augmented reality application for digital makeup. The Signature Faces application allows you to apply filters to your face in real time. “We believe that everyone is beautiful by themselves, but in a world where the camera is always on, it’s normal to want to “play” with filters. We want […]
Shares of Zoom and other companies, which rose amid the pandemic and lockdown, fell in trading on Monday. The reason was the announcement of two biotechnology companies about the successful testing of a promising vaccine, writes CNBC. Shares of the Zoom video conferencing service fell 17.4% by the end of the trading day. Amazon and […]
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]
Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]
AMC Entertainment Holdings, which owns the world’s largest network of cinemas, presented its financial report for the third quarter of 2020. His company ended with a net loss of $ 906.5 million – 16.5 times worse than last year. In the third quarter, the company’s cinemas began to reopen after a five-month of lockdown due […]
The outgoing 2016 was hard, and not only for business but also for the country in general. It was really difficult but not fatal: a new tax policy, the integration into the European market, difficulties of investment and many other things. There are key factors which have affected the development of a business industry much […]Next
The tripartite international project will be directed to the implementation of woods full state accounting and maintaining the state forest inventory. Kristina Yushkevich,acting chairman of the State agency of forest resources, held a meeting with the Michael Kharms director of Committee of the East European economic relations (Germany) and the Mikael Sutter representative of environmental […]Next
The sale of part of the social network TikTok of the Chinese company ByteDance to the American companies Oracle and Walmart has been suspended for now. Note that possible security threats from the Chinese technology giant have stopped the process of selling the platform. However, ByteDance continues to negotiate with the US intelligence services about […]Next
Taxi service Uber Technologies Inc. wants to sell the part of its stake in the Chinese taxi ordering service Didi Chuxing worth $ 6.3 billion, writes Bloomberg agency. According to sources, Uber is negotiating the sale of shares in Didi with Japanese company SoftBank Group, which is the major shareholder in both companies. “Although various […]Next
Turkish government for the first time resolved to apply penalties to the social network Twitter. Recently, Turkey turned to Twitter with a formal request to delete from the site all the information with an extremist nature, the information that supports terrorism. Twitter declined the request of the Turkish government and didn’t delete the corresponding positions […]Next
Fintech company Ant Group, a division of the Chinese Internet company Alibaba, plans to hold an initial public offering (IPO) on the Hong Kong Stock Exchange this year. This could become one of the largest IPOs in the world in 2020, according to Reuters citing sources aware of the situation. According to one of the […]Next
The policy of GFS of Ukraine, directed to the problem resolution of central government budget deficit doesn’t promote business development at all. Entrepreneurs ring the alarm bells! Despite the moratorium of business checks conducting , the expiring year has remembered by just improbable actions activation of the Public fiscal service of Ukraine. From practice As […]Next
Amazon has banned the import of seeds to the United States because the Americans received thousands of parcels from unknown shippers from China. In this regard, Amazon informed foreign partners of its decision and obliged sellers to remove publications with appropriate proposals. Now sell the seeds only can those who is in the United States, […]Next
German economy in the second quarter of this year decreased by 9.7% compared with the previous three months. This is evidenced by the final data of the Federal Statistical Agency of Germany (Destatis), according to Interfax-Ukraine. It is noted that this is the most significant rate of decline since the beginning of accounting rate in […]Next
Newspaper Financial Times found that IT-Oracle Corporation wants to buy Chinese video service TikTok. About this edition with reference to sources wrote on August 18. Official information about negotiations in ByteDance (it owns TikTok), nor Oracle did not comment. According to sources of FT, the company also is negotiating with investors who own shares in […]Next
According to the results of the outgoing year, Apple and Samsung have not settled the patent dispute in court. As predicted by experts, the penalty in the amount of $ 548 million, which was awarded to pay Samsung for patent infringement, did not accept the competitors, and Apple has demanded additional sanctions in the amount […]Next
Chip maker, Advanced Micro Devices, is in talks to buy a rival chip maker – the American company Xilinx, reported The Wall Street Journal. The deal might be exceeding to $ 30 billion and could be announced for the next week. The merger will become one of the largest transactions in the industry this year, […]Next
Court of the United States in late Sunday night temporarily blocked ban by the administration of President Donald Trump on downloading the TikTok program. This was reported by Reuters on Monday, September 28. Considered, that that the ban was to take effect on Sunday at 23:59 local time (Monday at 6:59 Kyiv time). However, the […]Next
The fall of the hryvnia will not happen again in the event of a full lockdown, as in March, assured the director of the open markets department of the National Bank Oleksiy Lupin. “We do not expect a repeat of the March events in the foreign exchange market, because in March it was something new, […]Next
Editorial office of the analytical business periodical LDaily congratulates readers and colleagues. Let this family winter holiday will bring warmth to your home, give the happiness and well-being to your family and loved ones. From the whole team of our magazine we wish you to leave behind all the troubles and sorrows. Start the year […]Next
LVMH CEO Bernard Arnault topped the list of the world’s richest people with a fortune of $ 186.3 billion, surpassing Amazon founder Jeff Bezos by $ 300 million. This was reported by Forbes. The top three also included Tesla and Space X chairman Elon Musk ($ 147.3 billion). According to the publication, Arno’s wealth increased […]Next