Zoom Video Communications, Inc. is confident that the company will increase 40% in revenue this year despite the fact that the availability of vaccines will decrease peoples' frequency of using the app.
The software has been a helpful alternative platform for education, socialization, and companies, especially at a time when more and more people are working from home.
Its massive growth in revenue last year amounting to $882.5 million is due to the remote working and learning conditions posed by the pandemic.
“We are humbled by our role as a trusted partner and an engine for the modern work-from-anywhere environment.” says chief executive Eric Yuan.
According to the earnings report, the net sales in the quarter when the pandemic struck rapidly grew from $15.3 million to $260.4 million.
“The fourth quarter marked a strong finish to an unprecedented year for Zoom,” Yuan added.
Following the earnings figures, Zoom shares also increased 8% in after-market trades.
Zoom emphasizes that its innovative communications platform is strong enough for the continuous growth of sales.
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