ZOOM STOCK PRICE SKYROCKETS 47% AFTER SECURING HUGE EARNINGS

Zoom Video Communications on Monday (Tuesday, September 1, 2020 in Manila) reported fiscal second-quarter earnings that exceeded Wall Street's expectations, showing that revenue was more than four times higher this year than last, Carmen Reinicke reported for Business Insider.

Shares of Zoom Video Communications skyrocketed as much as 47% to $478 in intraday trading Tuesday after the company on Monday reported fiscal second quarter 2021 earnings that handily beat Wall Street expectations.

The company, which has become a preferred means of communication amid the coronavirus pandemic, also boosted its full-year guidance.

Here are the key numbers-- Adjusted earnings per share: 92 cents reported, versus 45 cents (expected) and revenue, $663.5 million reported, versus $500.5 million (expected).