Zoom Video Communications, Inc. reported quarterly sales that topped estimates, showing that an increase in the demand for its video conferencing service during the pandemic coronavirus resulted in more customers who pay for the service. In this framework, the company also increased its forecast of annual revenue to almost double, as reported by the agency Bloomberg.
Revenues increased by nearly 170% to us $ 328,2 million in the period ended April 30,he said in a statement the company based in California, united States. Analysts, on average, estimated to be USD 203 million. In that sense, the profit, excluding some items, was 20 cents per share, compared to the estimated average of the analysts of 9 cents.
Zoom projected revenues of up to USD 1,800 million in the fiscal year, compared with a forecast of up to USD 915 million at the beginning of march. While analysts estimated USD 930,8 million.
Eric Yuan, chief executive, sought to ensure that its platform of virtual meeting gets that done in front of a large demand of people forced to stay in their homes to prevent the spread of Covid-19.
While the security and privacy issues plagued the system at the beginning of the quarantine, the Zoom became a social network essential, attracting more than 300 million users some days, as against 10 million in December.
It should be noted that the manufacturer of the software allows for meetings of up to 40 minutes without charge. If well Zoom generated more enthusiasm than its rivals corporate, your ability to attract more paying customers will determine how well it is facing competition from Microsoft Corp., Cisco Systems Inc. and Google of Alphabet Inc.
We must not lose sight that the action has more than tripled this year. Zoom said it closed the quarter with a 265.400 customers with more than 10 employees, an increase of more than four times compared with the same period of the previous year.
Among the main competitors of Zoom appears Alpabhet Inc. In that sense, Google Meet-the video-conferencing tool that, up until April it was available for premium users of G Suite – happened to be free since may 4.
Video conferencing free Meet support up to 100 participants, have no time limit (until 30 September, then will be of 60 minutes) and include functionality such as screen sharing, real-time captions (in English only) and tile expanded that allows web users to see up to 16 participants simultaneously.
In addition to the tool Meet use the same security measures that Google to protect your data and your private information, something that could be an advantage compared to Zoom. Although this last went from 10 million active users by the end of 2019 to a total of more than 200 million, at the end of march of this year.
The main shareholder of Zoom, Eric Yuan, appears, from the pandemic, in the list of the richest people in the world, with a fortune estimated at 5,500 million dollars.
On the other hand, Zoom has recently launched a philanthropic foundation began to donate to local and international partnerships, including the World Health Organization.