American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Zoom rose as much as 12% on Thursday after the videoconferencing company reported better-than-expected financials and provided an optimistic forecast in its first earnings announcement since going public in April.
Here are the key numbers for Zoom's fiscal first quarter:
Zoom's revenue more than doubled in the quarter, as businesses of all sizes signed on to the company's software, which works across devices, including smartphones. CEO Eric Yuan previously wrote code for competing service WebEx, which Cisco bought in 2007.
The company said it expects earnings of 1 cent to 2 cents a share, excluding certain items, in the second quarter, on $129 million to $130 million in revenue. Analysts surveyed by Refinitiv had been expecting Zoom to break even in the quarter, with $122.1 million in revenue.
Zoom's forecast for the full fiscal year was 2 cents to 3 cents in earnings per share, excluding certain items, and $535 million to $540 million in revenue. The Refinitiv consensus estimates were a loss of 3 cents in earnings per share, excluding certain items, and revenue of $520.3 million.
Zoom was profitable at the time of its IPO in April, distinguishing it from most technology companies that have sought to go public in recent years.
"We believe the combination of very effective sales and marketing, a superior product to its direct competitors and significant long-term market opportunity highlight Zoom as a premier vendor moving forward," Stifel analysts led by Tom Roderick wrote in a note in May. They placed a "hold" rating on the stock.
Shares of Zoom have risen more than 120% from the $36 price at which it sold shares in the IPO. Zoom's primary risk for shareholders is the valuation, Patrick Walravens of JMP Securities wrote last month as he initiated coverage with a "market perform" rating.
In the fiscal first quarter Zoom had 405 customers paying more than $100,000 in revenue over the past year, up from 344 one quarter earlier.
Executives will discuss the results with analysts on a conference call at 5 p.m. Eastern time.