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.
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.
You May Like: VW invests $2.6 billion in self-driving startup Argo AI
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.