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With the spread of Corona 19 infection, the number of users of Zoom, a video conferencing tool, has increased significantly. According to the earnings report for the first quarter of the 2021 fiscal year from February to April this year, which is also a period of rapid increase in users, ZOOM’s sales during this period reached $328.2 million, an increase of 169% from the previous year.
While sales increased, operating expenses such as data center maintenance due to the increase in new users and security enhancements also increased 208% from the previous year to $201 million. The cost of sales increased 330% year-on-year to $113.7 million, and gross profit was 68.4%, down from 80.2% in the previous year.
Zoom’s share price has hit around $68 in early 2020 after listing at $36 per share at the time in April 2019, and has soared to around $208 these days. The number of Zoom customers was 265,400, an increase of 354% from the previous year. It has a huge number of users, including over 300 million users per day, but has not disclosed the specific number of users. According to the analysis, as of May 27, the number of monthly active users of Zoom’s mobile app is estimated to be more than 173 million.
CEO Eric Yuan-Zoom explained that the company’s strategy is to provide different services no matter what device you use, no matter what you are doing. Related information can be found here .
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