Zoom booms as pandemic drives millions to its video service
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June 3, 2020
SAN RAMON, Calif. (AP) — 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 $198,00...
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