Zoom Revenue Growth 2020

Zoom s revenue for its fiscal first quarter between february and april more than doubled from the same time last year to 328m turning a profit of 27m compared with 198 000 a year ago.

Zoom revenue growth 2020. Zoom s covid 19 growth staggering as revenue soars june 3 2020 june 3 2020 ian horswill zoom the video conferencing service that has become a common word during the coronavirus pandemic saw its revenue soar by 169 to us 328 million in the three months to the end of april. Zoom s revenue increased 85 on an annualized basis in the third quarter of the company s 2020 fiscal year which ended on october 31 according to a statement last quarter revenue growth was 96. Beyond the peak of covid 19 through at least the end of 2020. It was to zoom that users across the world turned to stay in touch during the.

These 5 charts show the video conferencing upstart s explosive growth. Zoom video communications annual quarterly revenue history and growth rate from 2019 to 2020. Zoom is a video conferencing app geared towards business usage. This is even more impressive than the 169 increase that zoom achieved during the first quarter.

Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Remarkably that growth was on top of a 169. Zoom expects to boost revenue by 200 and profits by 300 this year. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income.

During the quarter that ended on july 31 a revenue of 663 5 million brought in adjusted earnings of 92 cents per share. By the close of the fiscal year 2020 zoom s total revenue stood at 623 million. Zoom is one of the biggest stories in the technology world. While gathering considerable popularity and coming to run profitably in the following years zoom truly entered the public consciousness during the coronavirus pandemic of 2020.

In early september the company reported revenue growth surged 355 year over year. It was founded in 2011 by eric yuan and launched in january 2013. Zoom growth booms with 355 revenue gain in second quarter. Zoom previously projected fiscal year revenue of 1 8 billion.