Statistics show this figure more than doubled in the next three-month period and hit $663.5 million. The strong increasing trend continued in the following months, with revenue rising to $328.1 million in the second quarter of the calendar year 2020. Zoom’s quarterly revenue jumped by 78% YoY in this three-month period and hit $188 million. The two-digit increase was driven by a strong Q4 FY 2020, matching the period between January and March 2020, when the pandemic already struck.

Over the next twelve months, this figure jumped by more than 88% to $626.6 million. In the fiscal year 2019, Zoom generated $330.5 million in revenue, revealed the company’s earnings report.

The surge in the number of users led to a 700% revenue growth in two years. With the ban on social gatherings, Zoom also became a cultural phenomenon through hosting parties, concerts, church services, and art shows. Museums, theatres, and schools chose the platform to maintain normal operations. As countries across the globe imposed lockdowns, family members also turned to Zoom as a way of keeping in touch with each other. However, Zoom emerged as the most preferred platform for holding virtual meetings. Unlike many other sectors, the video conferencing platforms witnessed explosive growth amid the COVID-19 crisis, as millions of people started working from home. Annual Revenue Soared by 700% in Two Years

Although the popular video conferencing platform generated impressive revenue through its fiscal year 2021, the year’s final quarter set a new record.Īccording to data presented by Buy Shares, Zoom hit a record high quarterly revenue of $882.5 million in Q4 FY 2021, almost a 370% increase year-over-year. Zoom’s revenues skyrocketed last year as global demand for online meeting solutions soared amid the COVID-19 lockdown.

Zoom stock march 2021