Zoom posts 355% YoY revenue growth

Zoom posts 355% YoY revenue growth
Zoom has announced financial results for the quarter ended July 31, 2020. Total revenue for Q2 2020 was $663.5 million, up 355% year-over-year.

“Organisations are shifting from addressing their immediate business continuity needs to supporting a future of working anywhere, learning anywhere, and connecting anywhere on Zoom's video-first platform,” said Zoom founder and CEO, Eric S. Yuan.

“Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355% year-over-year in Q2 and enabled us to increase our revenue outlook to approximately $2.37 billion to $2.39 billion for FY21, or 281% to 284% increase year-over-year.”

At the end of the second quarter of fiscal year 2021, Zoom hadapproximately 370,200 customers with more than 10 employees, up approximately 458% from the same quarter last fiscal year.

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