Zoom Video Communications, one of the few U.S. companies to see its business skyrocket during COVID-19, posted a dizzying set of financial results for its fiscal second quarter Monday
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The blockbuster earnings report lifted Zoom shares to a new record. They closed at $325.10, up almost 9%, gaining another 9% in after-hours trading. Founder and CEO Eric Yuan said the company’s revenue forecast for all of fiscal 2021 has been upped to a shade less than $2.4 billion, which would be a nearly four-fold improvement over 2020.
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