Eric Yuan, founder and chief executive officer of Zoom Video Communications, at right, speaks with Jay Heller, head of capital markets & initial public offering execution of Nasdaq, during the company’s IPO at the Nasdaq MarketSite in New York on April 18, 2019.
Victor J. Blue | Bloomberg | Getty Images
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The work-from-home company that has become synonymous with video calls reported earnings of 92 cents per share on $663.5 million of revenue for the quarter, easily topping Wall Street expectations on both fronts. The stock was up more than 40% in premarket trading.
JPMorgan, which already had an outperform rating on the stock, nearly doubled its price target after seeing the results.