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Zoom earnings soar as video meets become pandemic norm

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“The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom.” Zoom Pandemic Covid19 ZoomMeeting

Zoom said it made a profit of $27 million on revenue that leapt 169 percent to slightly more than $328 million in the fiscal quarter that ended April 30.

The quarter ended with Zoom having approximately 265,400 paying customers with at least 10 employees each — an increase of 354 percent from the first quarter in 2019, according to the company based in the Silicon Valley city of San Jose. “It’s a reminder that Zoom is seeing an unusual spike during what we hope will be a relatively short term event,” independent tech analyst Rob Enderle said.

 

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