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ZOOM BOOMS AS
PANDEMIC DRIVES
MILLIONS TO ITS
VIDEO SERVICE
Zoom Video Communications is rapidly emerging
as the latest internet gold mine as millions of
people flock to its conferencing service to see
colleagues, friends and family while tethered to
their homes during the pandemic.
Tuesday’s release of the once-obscure
company’s financial results for the February-April
period provided a window into the astronomical
growth that has turned it into a Wall Street star.
Zoom’s revenue for its fiscal first-quarter more
than doubled from the same time last year to
$328 million, resulting a profit of $27 million —
up from just $198,000 a year ago.
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