The latest results from Zoom are a stepping stone in the inexorable rise of remote working; The future of remote work is explained by Darwinian selection.
In its latest quarter, Zoom sales surged 191 per cent to $956.2 million. Net income surged from $27 million in the comparable quarter a year ago to $227.4 million. But is this a blip or a step in the inevitable route to a future of remote work?
It is well known that the Zoom share price surged during the pandemic, but maybe the biggest surprise is that the share price didn't increase by more. In January 2020, Zoom shares were circulating around $70. Right now, shares are at $327. Zoom shares increased by about 450 per cent. Net income increased ten-fold. In other words, profit growth exceeded share price growth.
But what about the future? What is the future of remote working?
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