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Illustration: Rebecca Zisser/Axios

Zoom's stock price is up nearly 10% in after-hours trading after the vide0-chat company posted Q2 results well above analyst expectations and raised its full-year guidance.

Why it matters: Zoom is unquestionably one of the biggest winners of the ongoing pandemic as restrictions on in-person interactions have forced many around the world to shift nearly all personal and professional activities online.

By the numbers:

  • Earnings: $0.92 per share, adjusted, compared to $0.45 expected, per Refinitiv.
  • Revenue: $663.5 million, compared to $500.5 million expected, per Refinitiv (and up 355% year-over-year).
  • Zoom now has about 370,200 customers with more than 10 employees, up 458% year-over-year, and 988 customers paying more than $100,000 in trailing 12 months revenue, up 112% year-over-year.

Of note: Asked about the company's plans with regards to China, Zoom CFO Kelly Steckelberg told analysts Zoom has no plans to move its engineering teams currently based in the country, though it is working on diversify where its engineering employees are based.

  • She added that moving Zoom's staff out of China would not affect its ability to provide services, but could affect its margins in the long run if it has to make staffing changes.
  • CEO Eric Yuan added that users of Zoom in China make up a small portion of the company's business.

Editor's note: The story has been updated with comments from the company's analyst call.

Go deeper

Ina Fried, author of Login
Nov 4, 2020 - Technology

Qualcomm results top expectations amid "milestone quarter"

Photo: Wang Gang/Visual China Group via Getty Images

Chipmaker Qualcomm on Wednesday reported sales and earnings that topped expectations, sending its shares higher. The results came amid stronger-than-anticipated smartphone shipments and licensing revenue.

Why it matters: Qualcomm is a major force in the wireless industry and arguably the biggest U.S.-based player in 5G.

43 mins ago - World

Netanyahu campaigns against Biden's plan to save Iran deal

Netanyahu campaigns at a gym last month. Photo: Pool/AFP via Getty

Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  2. Politics: Schumer says Senate will stay through weekend to vote on COVID relief — Republican governor of West Virginia says there's no plan to lift mask mandate.
  3. World: Canada vaccine panel recommends 4 months between doses.
  4. Business: Firms develop new ways to inoculate the public.
  5. Local: Ultra-rich Florida community got vaccinations in January.