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

2021-03-03T11:53:31.429Z

Expects revenues in 2021 to rise by a further 41% (ANSA) 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. The company closed fiscal 2020 with revenues more than quadrupled to 2.65 billion. And growth is expected to continue: Zoom expects revenues to rise by a further 41% this year, with the first quarter expected to be between $ 900 and $ 905 million.



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.

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

And growth is expected to continue: Zoom expects revenues to rise by a further 41% this year, with the first quarter expected to be between $ 900 and $ 905 million.

"The fourth quarter marked a solid ending 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, stating that Zoom is evolving into a platform that also offers other services, from webinars to chat rooms.

Source: ansa

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