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Zoom: 2020 revenues boom at 2.65 billion, growth will continue

2021-03-02T16:34:44.137Z

Zoom closed the fourth quarter with revenues up 369% to $ 882.5 million. Profit rose to $ 260 million from $ 15.3 million in the same period last year. (HANDLE)



(ANSA) - NEW YORK, 02 MAR - Zoom closed the quarter with revenues up 369% to 882.5 million dollars.

Profit rose to $ 260 million from $ 15.3 million in the same period last year.

The company has archived fiscal 2020 with revenues more than quadrupled to 2.65 billion.

And growth should continue: Zoom expects revenue this year to rise by an additional 41%, with the first quarter expected to be between $ 900 and $ 905 million.


    "The fourth quarter marked a solid finish in an unprecedented year for Zoom," says Zoom CEO Eric Yuan. The company has experienced strong growth rates thanks to the pandemic, which has forced billions of people around the world to work remotely. According to Yuan, the remote working phenomenon will continue and Zoom is adapting. "We are no longer just a video conferencing company," explains Yuan, pointing out that Zoom is evolving into a platform that also offers other services, from webinars to chats.


    The results were welcomed on Wall Street where the stock is up 4%. (HANDLE).


Source: ansa

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