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Zoom Revenue Qaudruples in Hugely Successful Second Quarter

Video conferencing platform Zoom had a massive second quarter, reeling in $663.5 million in revenue. A year ago, the company was managing...

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Zoom Revenue Qaudruples in Hugely Successful Second Quarter

Video conferencing platform Zoom had a massive second quarter, reeling in $663.5 million in revenue. A year ago, the company was managing figures around the $145 million, this goes to show the instrumental surge the company has experienced, through monetary success and growth of the employee infrastructure. With over 360,000 customers, it is no mystery as to why Zoom has partnered with HP, drop box, Logitech amongst others.

“Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355% year-over-year in Q2,” Zoom founder and CEO Eric S. Yuan said in a statement announcing the earnings.

The company’s revenue outlook for fiscal 2021 is now $2.39 billion, Yuan said. Zoom has become ubiquitous during the coronavirus pandemic, reflected in its superb first quarter when it grew revenue almost 170 percent year over year to $328 million.

Despite making steps the viable steps to link the world over an online platform, Zoom has struggled with its share of security issues in recent months, and the company had been criticized for implying its video chats were fully encrypted when they were not.

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It said in June it would allow users to enable end-to-end encryption in a beta version of both its free and paid tiers. Last week, the company suffered a widespread outage for several hours that affected all of its meeting and webinar services, though this was not experienced in Kenya.

 

 

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