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Home Applications

Zoom quarterly revenue up 169%

by Abraham Aali
in Applications, Business, NEWS, Tools
Reading Time: 1min read
Zoom quarterly revenue up 169%

Photo Credit: unsplash.com

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The revenue of the Zoom video communications service for the first quarter of 2020 increased by 169% compared to the same period last year and reached  $328.2 million. This is stated in the financial report of the company.

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At the same time, Zoom expenses increased by 330% – up to $103.7 million. The company mainly invested in cloud technologies to ensure the operation of its service in an influx of audiences. Earnings per share in the first quarter were $0.2.

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The report does not say how much the Zoom audience has grown. However, according to Apptopia analysts cited by CNBC, by the end of May, the number of active users of the service reached 173 million. In March, there were only 14 million.

Tags: Zoom
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Abraham Aali

Abraham Aali

Abraham Aali is a Staff Writer for Biztech Age. He covers industry news, including interviews with executives and industry leaders about the products, services and trends affecting small businesses, drawing on his 20 years of marketing knowledge.He holds a Master’s degree in Business Administration from Qatar University and MSIT from King Abdulaziz University.

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