MarketWatch First Take: Zoom Video focuses on huge market in effort to justify hefty valuation

Zoom Video Inc. delivered strong earnings and guidance in its first results as a public company Thursday, and talked about the huge market opportunity ahead — but the numbers still don’t justify its hefty valuation.

Even so, Zoom’s shares ZM, +1.78% surged in after-hours trading, jumping nearly 11% after the company reported earnings that surpassed Wall Street’s expectations. Zoom investors were clearly happy that the company did not disappoint, after a stunning IPO in April, when it far outperformed the debut of better-known online scrapbooking company Pinterest, with its shares exploding more than 70% in their stock-market debut.

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