'Wall Street star' Zoom, the latest internet gold mine amid Covid-19

Zoom reported fiscal first-quarter revenue of $328.2 million, beating analysts' estimates of $202.7 million, according to IBES data from Refinitiv

Zoom Video Communications Inc emerged as the latest internet gold mine as it nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online during coronavirus lockdowns.

But Zoom's costs also rose sharply, and executives said gross margins would likely remain below Zoom's historical norms in the coming quarters, sending shares of the San Jose, California-based company down 3.5% to $200.75 in after-market trading.

Tuesday's release of the once-obscure company's financial results for the February-April period provided a window into the astronomical growth that has turned