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Citing unicorns no big deal next to Zoom’s revenue growth!INTL

Citing unicorns no big deal next to Zoom’s revenue growth!

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).

why it matters
The pandemic may have changed society’s working habits forever, pushing many companies to adopt remote work as the new normal. Still, it’s worth keeping an eye on Zoom’s stock to see if the demand ends up being curbed by worldwide vaccination efforts.