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Zoom shares soared 41% on Tuesday, lifting the videoconferencing software company’s market cap to $129 billion after revenue and earnings blew past analysts’ estimates.
The rally added $37 billion of market value to Zoom, which went public in April 2019 and was worth about $16 billion after its initial day of trading. The company has been perhaps the biggest corporate beneficiary of the coronavirus pandemic, as employers across the globe have turned to the video chat technology to stay connected with staffers, customers and partners.