USA.-Zoom shoots its profits and quadruples its annual turnover due to the telecomming boom

Madrid, 2 (Europa Press)

Video conferencing application Zoom Video Communications posted a net profit of $ 671.5 million (€ 558 million) between February 2020 to January 2021, a 31-fold increase in earnings of $ 21.7 million (18 million euros) from the company last recorded . The year as a reflection of social far-reaching measures implemented by telecommunications to promote their activity and prevent the coronovirus epidemic.

Zoom’s revenue for the full fiscal year increased 326% year-on-year to 2,651.4 million (€ 2,204 million), more than four times the company’s turnover in the previous year.

Between November 2020 and January 2021, the fourth financial quarter for the company, Zoom reported a net net profit of $ 260.4 million (216 million euros), compared to earnings of $ 15.3 million (13 million euros). Period of the previous year.

Zoom’s revenue reached $ 882.5 million (734 million euros) in the fourth quarter of its fiscal year, an improvement of 369% compared to its revenue a year earlier.

At the end of the fourth quarter, Zoom had approximately 467,100 corporate customers, with more than a dozen employees, representing a growth of 7.7% over the previous three months and 470% over the twelve months.

Going forward for the current fiscal year, Zoom is confident of increasing its annual revenue to the range between $ 3,760 and $ 3,780 million (3,126 and 3,143 million euros), with a turnover of between $ 900 and $ 905 million (748) in the first quarter. Is included. And 753 million euros), while diluted earnings per share for the full year would be between 3.59 and $ 3.65.