Friday, September 17, 2021

Zoom triples revenue

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Zoom on Wednesday said it was still profiting massively from the pandemic-induced shift to working life, almost tripling its revenue in the last quarter.

The profits jumped to 227.4 million dollars from 27 million dollars a year earlier, Zoom reported after the U.S. stock market closed on Tuesday.

The video conferencing service saw revenue jump by 191 per cent to 956.2 million dollars in the first fiscal quarter of the year, which ended in late April.

The figures easily exceeded analysts’ expectations.

Zoom is also preparing for many workers to return to its offices.

Chief executive Eric Yuan’s plans include positioning Zoom for use in businesses as a phone service as well as a video conference platform.


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