Zoom’s Quarterly Revenue Breaks Through Billion Dollars

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Video conferencing service Zoom has booked more than a billion dollars in a quarter for the first time. However, growth is beginning to slow, and investors sent shares in the United States down more than ten percent after hours.

 

Video meetings became a regular part of the working day for many people during the corona pandemic. That did not harm players like Zoom. Zoom was still able to grow in the second quarter of this year. Turnover was more than half higher than a year ago, at 1.02 billion dollars. Net profit rose more than seventy percent to $316.9 million.

Zoom lived up to expectations. But investors mainly looked to the future, as more and more people start going back to work. As a result, zoom came out with a very cautious forecast, a disappointment to some. The company expects ‘only’ thirty percent growth in the third quarter compared to a year earlier.

Zoom has been preparing for the post-corona era for some time when video meetings will lose importance. In July, for example, it deposited nearly 15 billion dollars for the American company Five9, which deals with call centre services via the Internet. That was the largest acquisition ever for Zoom.

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