This might just be one of the biggest (but least surprising) success stories of 2020, and we’re all a part of it!
Zoom Video Communications Inc. (ZM), now a staple desktop/ mobile application on practically every device in the world, announced it made $2.6b in revenue last year, which marks a 326% increase compared to 2019. Its shares rose over 10% after the announcement.
Zoom's results are in line with those of similar tech companies that massively benefitted from the coronavirus pandemic, such as Facebook (FB), Amazon (AMZN), and Netflix (NFLX).