Riding on the pandemic-driven remote work, video conferencing app Zoom has once again quadrupled its quarterly revenue, registering $777.2 million in its third fiscal quarter that ended on October 31 — up 367 per cent (year-over-year).
This is second quarter in a row that Zoom’s revenue has quadrupled and the company expects an increased total revenue outlook of approximately $2.575 billion to $2.580 billion for fiscal year 2021 — approximately 314% increase year-over-year.
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The company said in a statement late on Monday that it now has approximately 433,700 subscribers with more than 10 employees, up from 370,200 last quarter.
The number of customers contributing more than $100,000 in revenue is now 1,289 — up 136 per cent from last year.
“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom,” said Zoom Founder and CEO Eric S. Yuan.
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In the face of the tough competition coming from Microsoft Teams, Google Meet and Slack, Zoom has maintained its popularity.
“We aspire to provide the most innovative, secure, reliable, and high-quality communications platform to help people connect, collaborate, build and learn on Zoom,” Yuan said.
For its fourth quarter for the fiscal year 2021, Zoom expects revenue between $806 million and $811 million.
“We expect to strengthen our market position as we finish the fiscal year with an increased total revenue outlook of approximately $2.575 billion to $2.580 billion for fiscal year 2021, or approximately 314 per cent increase year-over-year,” Yuan said.
–IANS
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