Taking the definition of continuity, two of three conditions are met, i.e.
a) We would have to define $f(0)=\infty$, but normally division by zero is not well-defined.
b) The limit $\lim_{x\to 0}f(x)=\infty$ exists.
c) The value of the limit equals the value $f(0)$.
Questions:
1) I that correct?
2) Does anything change if $f(x)=x^2$, or if we take $$\frac{1}{|x|} \text{ or } \frac{1}{x^2}$$ on the domain $[-\infty,\infty]$?
3) As for the participating notions that are needed to come to an answer, are there any common definitions which would lead to another conclusion? Something like "we say that a limit exists if its value is a finite number" etc.
I would argue at least b) is wrong. "$\lim f(a) = \infty$" is just a shorthand people use to mean "the limit is undefined" (at least in my experience).