Sales of the video service increased by almost 370 percent in the fourth quarter.
The video service Zoom continues to grow in the three-digit percentage range thanks to the ongoing trend towards home offices. In the fourth fiscal quarter, sales jumped 369 percent to $ 882.5 million, as the US company announced on Monday evening. Zoom Video now has around 467,000 customers with more than ten employees, which corresponds to an increase of 470 percent.
Recently, more and more users who have been using the service regularly since the outbreak of the pandemic have opted for a paid subscription model. Accordingly, the profit attributable to the shareholders climbed to around $ 260 million from just $ 15.3 million in the same period last year. That was significantly more than analysts expected. After the hours of trading, the share climbed almost ten percent.
“Strong final spurt”
“The fourth quarter marked a strong final spurt in an unprecedented year for Zoom,” said company founder and CEO Eric S. Yuan, referring to Zoom's role as an “engine for modern work from everywhere”. Yuan is confident that it will continue to grow strongly in the current fiscal year. For the first quarter to the end of April, Zoom forecasts revenues between $ 900 million and $ 905 million and for the fiscal year between $ 3.76 billion and $ 3.78 billion.
For many people in the home office, Zoom has become synonymous with video conferencing, with which employees can exchange ideas and talk to customers, or students can network with teachers. The company founded in San Jose in 2011, which has since struggled with security gaps, for example in encryption or so-called zoom-bombing, is not without competition. Video calls and conferences are also possible, for example, via the Teams office software from Microsoft, Webex from Cisco or offers from tech giants Google and Facebook.
