COVID-19 has had far reaching consequences for myriad businesses the world over, but as workers opted for digital means to get their work done, video conferencing platforms like Zoom have come up trumps.
Reporting an incredible rise in revenue at the close of the fiscal year, the company’s quarterly earnings report revealed Q4 revenue of $882.5 million (€735m), in a stunning 369 per cent increase over the same period on the previous year.
The report also showed that the platform had approximately 467,100 customers at the end of January, an increase of 470 per cent from the same period on the previous year.
“The fourth quarter marked a strong finish to an unprecedented year for Zoom,” Founder and CEO Eric Yuan said of the results. “We are humbled by our role as a trusted partner and an engine for the modern work-from-anywhere environment.”
“Our ability to rapidly respond and execute drove strong financial results throughout the year,” the CEO continued, adding, “we believe we are well positioned for strong growth with our innovative video communications platform.”
The report forecasted that the video conferencing platform will continue to grow by some 40 per cent in 2020.
‘Global challenges of 2022 persist into 2023 with high levels of inflation’ – BNF Bank CEO
David Power commented following the publication of the bank’s financial statements for 2022, where it recorded €12.2 million in pre-tax ...
iMovo Chief Officer Advisory Hadrian J Sammut talks business challenges, technology & solutions
‘Never overlook the fundamental concept that technology is always the tool, and never the actual solution.’
Svetlana Maslova to join HSBC Bank Malta as Chief Operating Officer
She will replace Elizabeth Hardy, whose three-year secondment in the position will end in June.
‘Receptionists and cleaners might be your best consultants’ – Y Ltd Managing Director Gordon Pace
The Y Ltd Founder and Managing Director highlights how receptionists and cleaners can offer insight into how others are feeling ...
