Zoom Increases Yearly Income Up to 169% Due to Remote Workers
Zoom celebrates the 169 % yearly growth reached with the help of remote office workers. The first-quarter revenue was revealed on June 2. One of the most popular video chat services received $328.2M, which automatically increased its yearly income. During the last 3 months, Zoom received $0.20 profit per share.
Analysts predict the next rise for Zoom on $202.48M in revenue and $0.09 profit per share. Its shares continue to grow on the market. The last session was closed with 2.3% up prior to the earnings call. Investors are still impressed with the latest numbers, expecting to see even more significant growth and bigger gains.
In the meantime, it would not be fair not to mention that Zoom owes its popularity to the worldwide lockdown that happened because of the Covid-19 pandemic. While the virus is spreading around the world, offices prefer to work remotely. Zoom is one of the main services that various companies prefer to use for arranging business meetings. Employees are not the only category of users. Zoom is widely adjusted in schools, universities, in private family gatherings. Analytics are wondering whether the earnings will stay the same after the ease of lockdown.