Zoom’s surging free user base dents margins as cloud costs rise

(Reuters) — Zoom warned on Monday that its gross margins would remain under pressure going into 2021 as the surging number of free users of its video conferencing service makes it hard to offset a spike in costs to maintain its growth.

Shares of the company, which have risen about sevenfold this year, fueled by the meteoric rise in demand for video conferencing for work, school, and socializing due to the COVID-19 pandemic, fell 5% after the bell, despite upbeat fourth-quarter forecasts.

Zoom operates some of its own datacenters, but it also relies on cloud computing services from outside vendors such as Amazon and Oracle, meaning it must bear costs for free users.

Those bills, driven in part by a jump in free users in the third quarter as millions of students and teachers started new school semesters, pushed Zoom’s gross profit margins down to 66.7%, below analysts’

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Why Zomedica Pharmaceuticals Is Surging Today



a dog wearing a bow tie: A close-up shot of a smiling veterinarian and a grey fluffy dog.


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A close-up shot of a smiling veterinarian and a grey fluffy dog.

Animal lovers, unite! Zomedica Pharmaceuticals (NYSEMKT:ZOM), an under-the-radar play on the pet care space, is having an impressive time in the stock market today. In fact, one big catalyst has ZOM stock up more than 20% today.



a dog wearing a collar shirt: A close-up shot of a smiling veterinarian and a grey fluffy dog.


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A close-up shot of a smiling veterinarian and a grey fluffy dog.

So what exactly is Zomedica Pharmaceuticals? And what is that big catalyst? Starting with the first question, Zomedica Pharmaceuticals says that its goal is to improve the quality of veterinarian care by helping more veterinarians be successful. To do this, Zomedica works to provide veterinarian solutions that help with diagnostics.

Essentially, the easier it is for vets to figure out what is wrong with an animal, the easier it is to begin treatment.

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With that in mind, Zomedica

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Coronavirus cases are surging in swing states that will decide the presidential election

 | Updated Oct. 30 at 4:30 p.m.

Coronavirus cases are surging in every competitive state before Election Day, offering irrefutable evidence against President Trump’s closing argument that the pandemic is nearly over and restrictions are no longer necessary.

In the 13 states deemed competitive by the Cook Political Report, the weekly average of new cases reported daily has jumped 47 percent over the past two weeks, from roughly 21,000 on Oct. 15 to more than 31,000 on Oct. 29.

Note: States sometimes changed their reporting methods or added backlogs of cases. Known instances are smoothed in the data.

Iowa, Michigan, Minnesota and Pennsylvania have all hit new weekly average highs in recent days, and in Florida and Georgia, case counts are growing again after having fallen from summer highs.

The rising coronavirus caseloads have been especially alarming in Minnesota and Wisconsin, as well as in

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Samsung sales reach record levels on surging smartphone purchases as its former chairman is laid to rest



Lee Kun-hee wearing a suit and tie smiling at the camera: MailOnline logo


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Samsung Electronics has announced it recorded its highest ever quarterly revenues in the last quarter the day after the group’s transformative former chairman Lee Kun-Hee was buried.

It made $59billion (£45.4billion) in sales during the period, and also registered $10.9billion in operating profits, its largest since 2018, and over half more than it earned in the previous three months.

Growing sanctions and concerns over Huawei technology encouraged customers worldwide to buy almost 50 per cent more smartphones from the Korean conglomerate, which is now the world’s biggest smartphone seller.



Lee Kun-hee wearing a suit and tie: Former Samsung Electronics chairman Lee Kun-Hee was buried in South Korea yesterday


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Former Samsung Electronics chairman Lee Kun-Hee was buried in South Korea yesterday

New premium smartphones the Galaxy Note 20 and the Galaxy Z Fold 2 were very popular, and coupled with strong sales of low- and mid-range phones boosted the firm’s third-quarter performance.

Meanwhile, profits in its

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