Even as the COVID-19 pandemic continues, some companies are reaping big.
Teleconferencing firm Zoom has reported a massive surge in profits after releasing its financial results on Tuesday.
And that’s not all because it has doubled its annual sales forecast.
Zoom Video Communications was once an obscure company, but it is now the new kid on the block in Silicon Valley and a stock market star to boot.
Their sales in Q1 from February to April are more than double compared to the same period in 2019. They rose to $328 million with a profit of $27 million – a world apart from $198,000 last year.
Also, the firm’s stocks gained nearly 3% during extended trading up to $213.60, which is over five times its IPO price of $36 less than fourteen months ago.
This growth means that Zoom has a market value of around $59 billion more than the combined market value of the four largest airlines in the United States.
Impressive. How fortunes change!
14,000 Complaints Filed Against Seattle Police Department Following Weekend Protests
After just one weekend of protests, the Seattle Office of Police Accountability has received a record 14,000 complaints regarding the conduct of its officers!
This is according to spokesperson Anne Bettesworth, who listed just a few of the comments:
- Officers covering up their badge numbers
- Protestors, including a young girl, being pepper-sprayed
- Officers failing or refusing to record their activities on body cameras
- Punching a protestor who was already on the ground during arrest
- Some officers broke the window of a Target store.
In a press release, the city said that subsequent investigations will be chaired by civilians and would be ‘as transparent as possible.’
Chillingly, one of the complaints reported police officers placing their knees on the necks of arrested protestors.
Keeping in mind that this kind of action killed George Floyd, don’t you think that the police should have learned a lesson by now?
India Evacuates 100,000 People as Cyclone Nisarga Looms
Mumbai, the capital of India’s Maharashtra state, has seen nearly 3,000 COVID-19 deaths. Now, another enemy is knocking on its doors – although ‘slamming’ would be a better term.
On Tuesday, over 100,000 people, COVID-19 patients among them, were being evacuated to safer places as the West coast of India braced for Cyclone Nisarga.
The cyclone’s scheduled landfall is Wednesday evening.
Mumbai, touted as India’s financial capital, is evacuating residents residing in flimsy homes near the beach. And 150 coronavirus patients from a new field hospital are being moved to a safer location.
A Twitter post from the office of the Chief Minister of Maharashtra read, ‘Slum-dwellers… in low-lying areas have been instructed to evacuate.’
Meteorologists have warned of massive rainfall and 110 kilometer per hour winds and gusts of 120 kph.
New York Police Chief Who Knelt with Protestors Says the George Floyd Incident Was Wrong
In an unexpected turn of events on Monday night, Terence Monahan, the New York City Police Department Chief, knelt with protestors while holding hands with those next to him.
On Tuesday night, Monahan said that he regretted George Floyd’s death, saying, ‘What happened to George Floyd was wrong.’ He added that police officers across America were now ‘paying the price’ after what happened.
The Monday protests saw about 5,000 people taking part in the Washington Square Park and only 50 officers.
As the protestors got more agitated, the organizers turned to the police for help.
When the organizer asked Monahan if he would go down on a knee with him, the chief agreed, and according to him, ‘it was very organic, nothing planned in what we did.’
If more police officers were like Monahan, do you think things wouldn’t be as bad?
Los Angeles Mayor States He’s ‘Proud’ of Peaceful Protesters
Thousands of protestors have been gathering in front of the Los Angeles Mayor’s residence.
And in reply to that action, Mayor Eric Garcetti said in a Tuesday press conference that he wanted the protestors to know he could hear them ‘loud and clear.’
‘I am proud of the protestors across the city who are peacefully expressing themselves. I embrace our right to do that, and I’m glad that it has been peaceful,’ Garcetti said.
As he thanked the police for their hard work, the mayor said that looting had reduced in the city, and the situation had been handled pretty swiftly.
Quite a one-of-a-kind statement, don’t you think?