Zoom ended a year with a bang that propelled it from a videoconferencing application to a star tool in our professional, school and social lives, a fundamental trend despite the improvement in health prospects in 2021.
The company is indeed counting on a growth of 42% in its turnover for the current year, according to its quarterly results release published on Monday, despite the likelihood that the Covid-19 vaccines will return education remote and telecommuting less necessary.
From February 2020 to January 2021, Zoom raked in $ 2.65 billion (€ 2.2 billion) in revenue, 327% more than the previous year and earned 672 million (€ 558.8 million) ) net profit (compared to $ 25 million, or € 20.8 million, in 2019-20). At the end of January, the group had more than 467,000 corporate customers with more than 10 employees.
In the last quarter, during the holiday season marked by reconfigurations and incentives not to organize gatherings, Zoom achieved 882 million dollars (733.4 million euros) in turnover (+ 369%) and 260 million (216.2 million euros) of net profit (against 15 million dollars, or 12.4 million euros, from November 2019 to January 2020).
Stakeholder in daily life
“We are honored in our role as a privileged partner and in being a driving force for the modern ‘work from anywhere’ environment,” said boss Eric Yuan, quoted in the statement.
“Zoom meetings” and “Zoom aperitifs” are now part of the daily life of millions of people. Software features, such as the mosaic display of participants, have been copied by the giants of Silicon Valley.
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The title of the group jumped nearly 9% during electronic trading after the close of the stock market. The objectives announced by Zoom undoubtedly play a big part in the enthusiasm of Wall Street: the company expects between 900 and 905 million dollars (748.4 and 752.6 million euros) in turnover for the quarter. in progress, and 3.7 billion (3 billion euros) for the year.