There’s a winner in the current pandemic crisis as more people adapt to the new normal of working from home.
As we turn to Zoom while working from home during the pandemic, the company is bankrolling. Picture: Olivier Douliery/AFPVideo chat platforms have become a vital part of day-to-day life since mid-March when the COVID-19 pandemic shut down offices across the country, and Zoom and rivals like Microsoft’s Teams and Cisco’s Webex have seen usage soar.
For the three months ending July 31, Zoom saw its revenue more than quadruple year-on-year to $US663.5 million , far outpacing the $US500.5 million which analysts had forecast. Zoom also raised its revenue forecasts by more than 30 per cent.
Zoom’s number of large customers – those generating more than $US100,000 in revenue in the past year – more than doubled to 988 in the fiscal second quarter.
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