Zoom posts 191pc quarter growth in remote work, learning era

Video chat and collaboration app Zoom on Wednesday reported another strong quarter with a 191 per cent growth in sales (on-year) in its first quarter of fiscal year 2022, as remote work and learning continue in the pandemic times

Reporting a revenue of $956.2 million in its first quarter, Zoom has raised its total guidance range to $3.975 billion to $3.990 billion for the full fiscal year.

"We are energised to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections," said Zoom founder and CEO, Eric S. Yuan in a statement.

The company has approximately 497,000 customers with more than 10 employees, up approximately 87 per cent from the same quarter last fiscal year.

It has 1,999 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 160 per cent from the same quarter last fiscal year.

For the full fiscal year 2021, Zoom's total revenue was $2,651.4 million, up 326 per cent year-over-year.