New York City, NY -- (SBWire) -- 12/22/2020 --Zoom Inc. is pleased to announce its upcoming enlistment in the esteemed S&P 500 in the early quarter of the New Year. S&P Dow Jones Indices has already confirmed the news and as per the schedule, the Zoom stock (ZM) will be added to the prestigious index on January 15, 2021. The ZM is currently priced upwards at 404.00 USD (as of December 17, 2020).
Another heavyweight name soon to be included in S&P 500 is Tesla. The iconic electronic automobile maker will be enlisted this December only. As per the sources, Tesla's stock has shown a dramatic leap by 40 percent even since the news of its joining the index became public and market experts are expecting a somewhat similar rally with Zoom's stock too shortly.
"We are excited to announce that Zoom Inc. stock, ZM, is soon to be enlisted in the S&P 500 in the middle quarter of the coming year. We are honoured and grateful to S&P Dow Jones Indices for considering us as a credible listing for their elite index and their acknowledgement has been a huge boost to our business, our operations, our whole team and our overall market capitalization. It feels really special and there could not be a better way for us to celebrate the New Year", stated a leading spokesperson from SP GLOBAL INDEX.
Headquartered at California, Zoom Video Communications, Inc. was founded in 2011 by Eric Yuan. The company extends online chat and video telephony services via cloud-based P2P software portal. Zoom services are widely used for telecommuting, teleconferencing, distance education as well as social relations. The company is backed by esteemed sales partners, including the likes of Salesforce, Slack Technologies, Box and Atlassian.
The year 2020 has been a landmark year for Zoom with the current Coronavirus pandemic forcing almost all the businesses to adopt the Work-From-Home culture, with regard to lockdown and social distancing norms. It led to a staggering demand for Zoom's video conferencing software as video calls and video meetings became a staple to stay in touch with employees, team members, clients, consumers and also near and dear ones. From cracking major deals to co-working with colleagues to taking online classes to celebrating events like weddings- the Zoom video calling software has been the one-stop solution for all this year. It won't be exaggerating to say Zoom has almost become a social as well as cultural phenomenon by now and that too all across the globe.
This dramatic rise in adoption of Zoom's services has proliferated the revenue growth of the company ever since April 2020. Zoom's revenue in July-quarter too blew past the consensus estimates. In October, Zoom's earnings accelerated to a whopping 1,000%, with the revenue soaring by 367% (777.2 million USD).
Zoom has forecasted a further up in revenue to 808.5 million USD by the conclusion of January quarter in 2021.
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About SP Global Index
SP Global Index is a provider of S&P 500 index along with global market indices; also providing data sources to ascertain the independent credit ratings of the largest business operations, tech giants and organizations in the country.
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Zoom Inc. to Foray Into S&P 500 in January 2021