Zoom beats quarterly revenue estimates on remote work boost
FILE PHOTO: A 3D printed Zoom logo is placed on the keyboard in this illustration taken April 12, 2020. REUTERS/Dado Ruvic/Illustration
When the pandemic hit in early 2020, Zoom was a relative upstart founded by a former Cisco executive that had gone public on a promise to make video conferencing software easier to use. But the ease of use came with privacy and security concerns that drove some customers to competitors earlier this year and prompted Zoom to embark on a 90-day plan to address the issues.
The company said revenue rose 355% to $663.5 million, above analysts’ average estimate of $500.5 million.
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