Zoom Video Communications Inc. he said its growth would continue at a rapid pace amid the vaccine launch, after pandemic blockades turned the company into a household name and a beloved investor.
The video conferencing company said Monday that this year’s revenue would increase more than 41% after more than quadrupling to $ 2.655 billion in the fiscal year ended January. Last year’s strong growth repeatedly exceeded Zoom’s own projections and the latest result exceeded forecasts issued in November.
The price of Zoom shares, which has tripled in the last twelve months, advanced almost 10% in trading after Monday’s schedule, after having gained by a similar margin to end at 409, $ 66 during the regular session of the day.
The company, which began trading on public markets in 2019, has been one of the biggest corporate beneficiaries since the shift to distance work and distance schooling, pitting it against bigger rivals like Microsoft Corp.
Although Zoom became famous, in part, by giving its services for free to many users during the pandemic, the number of paying users also skyrocketed as large companies and others tried to connect. its workforce and with customers. Zoom ended the year with nearly 467,100 customers with more than 10 employees, an increase nearly sixfold from the previous year.