Zoom and post-pandemic forecast

Zoom and post-pandemic forecast

Zoom expects sales to be up more than 40% in 2021 and reach more than USD 3.7 billion. The company in its forecast says it does not expect growth to continue at the pace it enjoyed last year when people started working at home because of the pandemic. However, so far business remains strong. The company has video conference services, both fee-based for companies and more limited general service for free.

September – December sales were up 370% to USD 882.5 million compared to the last quarter 2019.

“The fourth quarter marked a strong finish to an unprecedented year for Zoom. As the world emerges from the pandemic, our work has only begun”, said CEO Eric Yuan.

“The future is here with the rise of remote and work from anywhere trends. We recognize this new reality and are helping to empower our own employees and those of our customers to work and thrive in a distributed manner.”

Sales grew 326% to USD 2.6 billion in 2020. Profits were up from USD 21.7 million in 2019 to USD 671.5 million.

At the end of the fourth quarter Zoom had 467 100 customers with more than ten employees, up 470% for the same quarter last fiscal year.

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