After the explosive growth during the Corona crisis, the video conferencing service Zoom is expecting strong growth again this year. The company is targeting revenue growth of at least 42 percent for the fiscal year just ended. Investors celebrated the fresh quarterly figures and the forecast with a share price jump of at times around nine percent in after-hours trading on Monday.
In the past fiscal year, which ended in late January, sales jumped from $623 million to $2.65 billion (2.20 billion euros). The big question is how much further Zoom can grow – or whether the company has largely exhausted its market potential in the Corona boom with lockdowns and work-at-home. It’s also still uncertain how much video conferencing will remain a part of everyday life once the pandemic is over.
Zoom’s plan for the future is to use its strong position in video conferencing as a beachhead to become permanently entrenched in future office life as well. The key to this is telephony: Zoom Phone is designed to replace companies’ current phone systems while allowing seamless integration with video conferencing. In the past quarter, Zoom’s phone customers included the University of South Carolina, with 21,000 lines, and Universal Music, the world’s largest music company.
— spurce: derstandard.at/picture: zoom.com
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