Between February and April the company of the video calling app Zoom increased its revenues by 169% compared to 2019

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Between February and April the company of the video calling app Zoom increased revenues by 169% compared to the same period of 2019: they amounted to 328.2 million dollars, for a profit margin of 27 million, compared to about 200 thousand dollars in the same quarter last year.

Zoom Video Communication was little known until a few months ago, but has become one of the main apps for teleconferencing, remote meetings and video calls between friends and family since the coronavirus pandemic began. Despite some initial security concerns, Zoom’s growth has exceeded financial analysts’ expectations. After the announcement on revenue growth, the value of the shares increased by 3 percent, reaching $ 213.60: that is, more than five times the value they had at the time of listing on the stock exchange, 14 months ago.

However, the announcement on the trend of the first fiscal quarter of 2020 for Zoom contains some less encouraging aspects: the company has in fact converted thousands and thousands of users of the free version to the paid version, but has also simultaneously increased the free users, of which must bear the additional costs. For the next quarter, however, the company said it expected revenues of between $ 495 million and $ 500 million.





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https://www.ilpost.it/2020/06/03/zoom-aumento-ricavi-2020/

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