Eric Yuan

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.

Related

Networking that works: Real advice for building meaningful connections

2 April 2025
by Nicole Zammit

Effective networking is about building authentic, lasting relationships.

Built for resilience: Inside Accolade Industrial Fund’s decade of strategic growth

1 April 2025
by Prabjit Chohan-Patel

Accolade Industrial Fund represents a €1.92 billion real estate powerhouse – now it invites Malta’s investors to share in the ...

73% of Maltese social media users follow brands: Why CEO messaging is no longer optional 

1 April 2025
by Sam Vassallo

The data shows a clear appetite for personal connection

‘Immense pride and gratitude’: David Curmi reflects on one year of KM Malta Airlines

1 April 2025
by Nicole Zammit

'Every individual plays a crucial role.'