Zoom, one of the biggest video conferencing companies in the world, recently announced it’s second quarter earnings for 2020. Revenues increased by an incredible 355% to £496.3 or $663.5 million for the months ending on the 31st of July. Profits also soared to an incredible $186 million, while the customer base grew by 458%.
Zoom’s sensational second quarter no doubt has something to do with the increase in demand for video conferencing since the COVID-19 pandemic. As remote working continues to thrive, countless organisations are turning to Zoom for a quick and easy way to stay connected. Notably, it’s not just small organisations that are reliant on Zoom today either. According to the report, the number of organisations with more than 10 employees using Zoom also increased by 354%.
Zoom says that it’s large customers, those generating more than $100,000 a year also doubled during the most recent quarter.
Zoom is Bigger Than Ever
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Eric Yuan[/caption]
Just like rivals Cisco Webex and Microsoft Teams, Zoom is benefiting from a sudden transition into the digital world for communication and collaboration.
Wherever you look, businesses are switching to video conferencing to keep employees engaged, productive, and connected. Zoom’s presence in the Americas grew by 288% this quarter, while the company’s EMEA and APAC revenues increased to 629% year over year.
According to the CEO of Zoom, Eric Yuan, organisations are rapidly making the shift to a future of anywhere learning, working, and connecting. Zoom strives to provide a frictionless and convenient experience for secure communications. The ability of the company to connect people around the world enabled Zoom to increase its revenue outlook to $2.39 billion for FY21.
