Zoom has experienced a new day of strong increases in the stock market. The actions of the video calls ‘app’ have advanced more than 7% this Wednesday after presenting results well above the expectations of the consensus.
He has declared an income of 328 million dollars, 62% above what the consensus estimated, which had calculated around 203 million. These figures have a lot to thank for the coronavirus.
“The pandemic has focused on Zoom and has become a well-known brand, both professionally and in a personal capacity. Company closings have led people to work and socialize from home, “explains David Madden, analyst at CMC Markets
Although the coronavirus effect could soon wear off, “people will have more freedom, so the group could see a drop in demand,” says Madden. However, this does not seem to happen in the near future, most experts bet that telecommuting is here to stay, including Madden himself.
“It is likely that there is a greater focus on working from home, so Zoom services are likely to see an increase in demand in the coming years, “says the expert.
Although the future looks bright, the company does not want to be under any illusions. Kelly Steckelberg, financial director of Zoom, assures that they have a conservative approach, and are also taking into account that there will be abandonment rates, they expect that a large number of people will stop using their services.
Green numbers today are an exception. The confinement that the vast majority of the population has suffered in recent months has catapulted it into the stock market to such an extent that so far this year its actions have advanced about 220%. It is currently trading near $ 200 a share, its all-time highs.