Zoom expects to make $3.7 billion in revenue this fiscal year

Zoom is one of the most frequently used videoconferencing software in the new normal.


Faith Baltazar

7 Mar, 2021

Zoom expects to make $3.7 billion in revenue this fiscal year | BEAMSTART News

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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.
Zoom works as a real-time videoconference platform

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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