Zoom earnings soar, doubles revenue forecast as video meetings become pandemic norm

SAN FRANCISCO - Zoom on Tuesday reported that its earnings soared as its video-meeting service became a popular way to work or socialize while hunkered down due to the pandemic.

"The Covid-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom," founder and chief executive Eric Yuan said in a release. The quarter ended with Zoom having approximately 265,400 paying customers with at least 10 employees each in an increase of 354 per cent from the first quarter in 2019, according to the company based in the Silicon Valley city of San Jose.

New York state's top prosecutor last month announced that Zoom would improve security measures, after flaws were detected as the video conferencing platform soared in popularity amid the coronavirus pandemic.

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