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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.

Mike Allen, author of AM
7 mins ago - Politics & Policy

Scoop: Fauci's offensive against "craziness"

Photo: Win McNamee/Getty Images

After becoming a top punching bag for the right, Dr. Anthony Fauci is defending himself with a sharp new edge, arguing that an attack on him is an attack on science.

What he's saying: In comments to Kara Swisher on her New York Times "Sway" podcast, shared first with Axios, Fauci says: "It is essential as a scientist that you evolve your opinion and your recommendations based on the data as it evolves. ... And that's the reason why I say people who then criticize me about that are actually criticizing science."

Afghanistan's president coming to Washington on Friday

Ashraf Ghani, left, president of Afghanistan, and Abdullah Abdullah, chairman of the High Council for National Reconciliation. Photo: Sean Gallup/Getty Images

As the U.S. troop withdrawal accelerates, President Biden will welcome Afghan President Ashraf Ghani and Abdullah Abdullah, chairman of Afghanistan’s High Council for National Reconciliation, at the White House on Friday.

Our thought bubble: Axios politics editor Glen Johnson, who traveled to Afghanistan while working for Secretary of State John Kerry, said inviting both Ghani and Abdullah to Washington shows the administration’s respect for the delicate balance of power in the country.