Zoom Sees A Huge Increase In Subscribers And Revenue Due To the Ongoing Pandemic.

Zoom had a blockbuster quarter as its app became the hottest videoconferencing service of the pandemic. In an earnings report today, Zoom reported making $328 million in revenue during its February–April quarter. That’s up far more than double from the same time last year, when it made $122 million, and it comes in well above the $200 million that Zoom expected it would make when it issued guidance just a few months ago.

The earnings report, Zoom’s first since the pandemic was declared, offers a deeper look at how the company performed as its video chat software become the de facto tool for work meetings and staying in touch with family and friends while much of the world is stuck at home. Zoom previously said that usage has grown to 300 million meeting participants each day, up from just 10 million in December. That figure has since fallen from its peak in April, Zoom CFO Kelly Steckelberg said on a call with investors, but “certainly over the long term, we expect it to grow beyond that 300 million number.”

Though Zoom is increasingly being used by consumers, and not just the enterprise and business customers it was built for, Zoom CEO Eric Yuan suggested the company has no plans to start building out a consumer-specific product beyond the free calling experience it already offers. Zoom should have the “same experience” however you’re using it, Yuan said on the investor call. “Our strategy is offer one service no matter what you do, no matter which device.”

For now, Zoom’s top priority is just to keep its servers up, Yuan said, “because so many people are counting on Zoom to stay connected.”


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