Zoom’s revenue zooms ahead by 355%

Zoom Video Call, the leaders in video-first unified communications, today announced financial results for the quarter ended July 31, 2020 and reporting a total revenue for the quarter was $663.5 million, up 355% year-over-year.

Eric S. Yuan, founder and CEO for Zoom

“Organizations 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. At Zoom, we strive to deliver a world-class, frictionless, and secure communication experience for our customers across locations, devices, and use cases,” 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.”

In the third quarter of the current fiscal year, the company is looking at a projected revenue between $685.0 million and $690.0 million and non-GAAP income from operations is expected to be between $225.0 million and $230.0 million.

While, Zoom is expected to touch a total revenue between $2.37 billion and $2.39 billion for the full financial year. This revenue outlook takes into consideration the demand for remote work solutions for businesses. It also assumed increased churn in the second half of the fiscal year when compared to historic churn levels due to a higher percentage of customers who purchased monthly subscriptions in the first quarter.