Zoom Video Communications’ financial results for the quarter ended July 31st, 2020 reveal that total revenue for the quarter was $663.5 million, up 355 per cent year-over-year.
“Organisations 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,” reported Zoom founder and CEO, Eric S. Yuan. “At Zoom, we strive to deliver a world-class, frictionless, and secure communication experience for our customers across locations, devices, and use cases. Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355 per cent 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 per cent to 284 per cent increase year-over-year.”
Drivers of total revenue include acquiring new customers and expanding across existing customers. At the end of the second quarter of fiscal year 2021, Zoom had: