Zoom recently presented its quarterly results, a record result that shows the crazy growth experienced by the videoconferencing platform since the beginning of the coronavirus pandemic in the world.
In France, this service has started to be talked about since the beginning of the confinement to the point of becoming one of the references of communication between people, whether it is professional relationships directly related to teleworking or personal conversations between family and friends.
While Zoom has been quickly adopted thanks to key features – such as the ability to add a large number of users even with the free version – the last few months have not been easy for the platform. In fact, its security has been the subject of much discussion, to the point that the company has focused on this issue for three months with the aim of fixing the defects and other deficiencies that were blamed on it. However, this does not seem to have affected the strong growth of the service during this period.
This is Zoom’s turnover for the second quarter of 2020. Between April and June, the company surpassed 663 million dollars, a monstrous increase of more than 355% compared to the same period last year, when it reached a turnover of 146 million dollars. There was also a sharp increase in net profits, with $185.7 million compared to $5.5 million the previous year.
Following the announcement of its record results, Zoom’s share price rose sharply, rising 40% during the session following the announcement of its quarterly results, which ended at $457.69 on the Nasdaq.
This is Zoom’s market capitalization at this time. With 129 billion dollars, the company is positioned ahead of IBM, which only claims 110 billion. Last May, it already weighed more than the seven main airlines in the world, represented among others by Southwest Airlines and Air France KLM.
This is the number of clients claimed by Zoom when announcing its quarterly results, knowing that all of them have more than 10 employees. In comparison, this figure was 265,400 at the end of April and only 66,300 a year ago. Zoom’s CEO was pleased to welcome new clients such as ExxonMobil and Activision Blizzard. Zoom has been banned by several American companies that have pointed out its security, following the example of Google and other technology giants. However, this does not prevent the platform from gaining new subscribers of choice.
By announcing its quarterly results, Zoom raised its expectations for the future as well as its ambitions. For the year 2021, the company forecasts sales of approximately 2.4 billion dollars. For the next quarter, the company expects sales of between $685 and $690 million.