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Zoom Rises, Walmart+ Impresses

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 1 September 2020

⏱️ 17 minutes

🧾️ Download transcript

Summary

Zoom Video shares soar after 2nd-quarter revenue rises 355%. Liberty Oilfield Services shares pop 30% after a deal with Schlumberger. Bill Barker analyzes those stories, as well as Walmart’s unveiling of details on its new membership service.

Transcript

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0:00.0

It's Tuesday, September 1st, welcome to Market Foolery. I'm Chris Hill with me today.

0:07.0

Mr. Bill Barker, good to see you, my friend.

0:10.0

Good to be here.

0:11.0

We have got the first details on Walmart's new service.

0:14.9

We have a deal in the energy industry.

0:18.2

We're gonna get to those, but we are going to start

0:20.3

with the stock of the day.

0:22.4

Second quarter revenue for Zoom video grew 355%.

0:29.3

Let me say that again. Revenue grew 355 percent. This is on top of the previous quarter's revenue growth of just

0:39.2

about 170 percent and shares of Zoom Video a company that went public in April of 2019 at $36 a share, the stock is now at $450 a share.

0:53.0

Yes, what can I add?

0:56.5

This is, we were discussing whether this quarter is in the Hall of Fame

1:01.8

for publicly traded stock quarters or whether it's just

1:06.8

goes straight to Mount Rushmore as one of the very elite perhaps only four of all time.

1:13.0

I'd like to know what others are in the competition for this.

1:16.2

And it probably comes as little of a surprise

1:21.2

that, obviously, in the April, May, June, or sorry, May, June, July, quarter, this company

1:30.3

grew tremendously, but to have grown from doing a reasonable amount

1:36.1

145 million in revenue a year ago for the quarter to 663 you know that's one of the reasons 663 million for the

1:45.3

quarter that this is a hundred billion dollar company already.

1:50.3

Yeah I certainly over the past few weeks we've talked on this show and on Motley Full

1:57.2

Money about retail companies putting up ridiculous growth numbers in terms of their online sales, 200%,

...

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