Industry

Software companies looking to hold an IPO in upcoming weeks got a shot in the arm from strong first financial results by two recently public cloud companies, PagerDuty and Zoom.

Shares of IT monitoring service PagerDuty jumped $1.84, or nearly 4%, in after-hours trading on Thursday, with its stock hovering just under double its list price from April 10. And that's nothing compared to Zoom, the video communications company that went public the following week. Shares of Zoom spiked $8.57, or nearly 11%, in after-hours trading, up 145% from its $36 list price.

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