Zoom shares hit record high amid blowout earnings for second quarter

Company sees explosive growth in 2020, fueled by the increase of remote work during the pandemic

Curated via Twitter from Guardian Tech’s twitter account….

Zoom has seen an increase in paying customers this quarter, according to the report, with approximately 370,200 customers of businesses with more than 10 employees, up approximately 458% from the same quarter last fiscal year.

Zoom shares hit a record high on Monday as the company announced blowout earnings for the second quarter of 2020.

However, it continues to face problems with “zoom bombing,” a practice in which pranksters terrorize people in Zoom events with racist language and other hate speech.

The video conferencing platform has seen explosive growth in 2020, fueled by the increase of remote work during the Covid-19 pandemic.

Zoom reported adjusted earnings of $0. 92 per share, above the $0. 45 per share predicted.

Shares of the company, which have surged almost four-fold this year, rose 9% after the bell and hit a record high in regular trading.

Zoom saw a massive increase in users as countries around the world instituted lockdowns to slow the spread of Covid-19.

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