Zoom Came Out Better off From Epidemic!

Video conferencing platform Zoom was profitable from the epidemic. In the coronavirus epidemic process, the demand for video conferencing applications increased. However, the value of Zoom exceeded $ 50 billion for the first time with the rise on Friday. People who closed their homes due to the coronavirus epidemic were able to handle their work remotely thanks to the video conference application, as well as video chat with their loved ones. Zoom, a video conferencing application, was profitable from this period. The market value of Zoom Video Communications Inc., which produces the application, has exceeded $ 50 billion for the first time. Zoom's shares rose 9.7 percent to $ 179.48 on Friday. As a result of this increase, the market value of the company reached $ 50.6 billion. Zoom, which has seen a rapid increase in use during the epidemic process, is the best performing group in the S&P 500 Index, while investors are assessed that markets may be positioning ahead of the profit report expected to arrive on Tuesday. The use of California-based Zoom has gained more than 160 percent since the beginning of the year, with the expectation that the coronavirus epidemic will increase during the epidemic process and turn into a long-term profit increase. The company's shares are traded 55 times above their estimated profit. This value corresponds to an average of 7 times the software and services sector shares in the S&P 500 Index. According to the information in the Bloomberg Billionaires Index, the founder and CEO of Zoom Eric Yuan's fortune rose by $ 800 million on Friday to $ 9.3 billion.