Why Is Everyone Talking About Zoom Stock?
Zoom Video Communications (NASDAQ: ZM) became synonymous with video calls during the pandemic. Its simple interface and catchy brand stood out in a sea of complicated enterprise-oriented solutions, and its free tier attracted millions of new users and converted many of them into paid subscribers.
Zoom went public at $36 per share two years ago, and its stock now trades in the $350s. Its growth rates have been astounding -- its revenue rose 88% in fiscal 2020 (which ended in January 2020), then surged 326% to $2.65 billion in fiscal 2021. Its adjusted net profit increased more than six times year over year in fiscal 2020, then rose nearly tenfold to $996 million in fiscal 2021.
Image source: Zoom.
Source Fool.com
