Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Zoom saw revenue quadrupled during the monstrous second quarter

Zoom saw revenue quadrupled during the monstrous second quarter



The Zoom video conferencing platform had a huge second quarter with revenue of $ 663.5 million, compared to $ 145.8 million a year ago, the company said Monday. It now has about 370,000 customers with more than 10 employees, an increase of 458 percent on an annual basis.

“Our ability to keep in touch with people around the world, along with our strong performance, has led to revenue growth from 355% on an annual basis in the second quarter, “said Zoom founder and CEO Eric S. Yuan in a statement announcing the profits.

The company̵

7;s revenue forecast for fiscal 2021 is now $ 2.39 billion, Yuan added. The increase was ubiquitous during the coronavirus pandemic, reflected in its first quarter, when revenue rose nearly 170 percent year-on-year to $ 328 million.

In recent months, Zoom has been battling its share of security issues, and the company has been criticized for suggesting that its video chats are fully encrypted when they are not. In June, it said it would allow users to enable end-to-end encryption in beta at both free and paid levels. Last week, the company suffered a major break for several hours, affecting all of its meeting and webinar services.

Company executives will hold a discussion to discuss the income statement at 5:30 p.m. ET on Monday.

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