Zoom rides the work-from-home wave, revenue jumps 369% in December 2020 quarter

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Zoom rides the work-from-home wave, revenue jumps 369% in December 2020 quarter
TOI
Riding on work-from-home scenario in the pandemic, video collaboration and chat platform Zoom has reported a staggering 369 per cent rise in its quarterly revenue at $882.5 million.
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Net Income for the fourth quarter was $260.4 million, or $0.87 per share, the company announced on Monday.

It now has nearly 467,100 customers with more than 10 employees, up approximately 470 per cent from the same quarter last fiscal year and 1,644 customers are contributing more than $100,000 in trailing 12 months (TTM) revenue, up approximately 156 per cent from the same quarter last fiscal year.

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"We are humbled by our role as a trusted partner and an engine for the modern work-from-anywhere environment. Our ability to rapidly respond and execute drove strong financial results throughout the year," said Eric S Yuan, Founder and CEO of Zoom.

"As we enter FY2022, we believe we are well positioned for strong growth with our innovative video communications platform, on which our customers can build, run, and grow their businesses," he added.

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For the full fiscal year 2021, total revenue was $2,651.4 million, up 326 per cent year-over-year.

Zoom said that total revenue is expected to be between $900 million and $905 million for the first quarter of financial year 2022.

"In FY2021, we significantly scaled our business to provide critical communications and collaboration services to our customers and the global community in response to the pandemic," Yuan added.


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