Zoom video conferencing service was a strong climber on Wall Street on Tuesday in the first trading minutes. Quarterly figures from the fast-growing technology company fell well with investors, who saw encouraging signals about expected revenue after coronavirus year 2020. The main indicators for the New York stock exchanges opened almost immediately after the solid profits a day earlier.
The share of Zoom Video was worth almost 5 percent more. The company achieved a higher profit and revenue in the closing quarter of the year than analysts on average had expected, with sales over the entire past year being four times that of a year earlier. The company benefited from the fact that employees worldwide had to work remotely from the office from one day to the next.
The Dow-Jones index rose a fraction to 31,537 points. The broad S & P 500, which recorded the strongest one-day increase since June on Monday, scored almost flatly at 3,899 points. Tech fair Nasdaq lost 0.4 percent to 13,540 points.
The profits from the day before were motivated by optimism about vaccine action programs against the new coronavirus. In addition, there was a pause in the rise in government bond yields in the past few days, which also gave investors more confidence in stocks of fast-growing tech companies.