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

Why China matters to the movie industry

Data: PwC Global Entertainment & Media Outlook 2020–2024; Chart: Axios Visuals

Mainland China is expected to remain the second-largest global cinema market both in admissions terms and in box office revenue through 2024, per PwC.

The state of play: Prior to the pandemic, PwC estimated that China would overtake the U.S. box office this year. Mainland China already has the most movie screens of any country in the world and continues to grow despite the pandemic.

Updated 58 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 30,804,120 — Total deaths: 957,348— Total recoveries: 21,062,785Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 6,766,631 — Total deaths: 199,268 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Education: What we overlooked in the switch to remote learning
  4. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.

What we overlooked in the switch to remote learning

Illustration: Eniola Odetunde/Axios

America’s rapid and urgent transition to online school has come with a host of unforeseen consequences that are only getting worse as it continues into the fall.

The big picture: The issues range from data privacy to plagiarism, and schools are ill-equipped to deal with them, experts say.