Zoom predicts business boom will extend beyond pandemic
Videoconferencing start-up’s shares rise 10% as revenue growth forecast beats expectations
Wall Street may be anticipating workers will become less reliant on Zoom calls as Covid-19 vaccines are rolled out, but the videoconferencing start-up still turned in a surprisingly strong performance in the last quarter and predicted faster growth in the coming year.
The news sent Zoom’s shares up as much as 10% in aftermarket trading on Monday, valuing the company at $131bn (about R1,9-trillion). That is still more than 20% below a high in October, before investors started to look ahead to an easing of pandemic restrictions...