{"id":20080,"date":"2020-06-04T15:35:00","date_gmt":"2020-06-04T15:35:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2580805"},"modified":"2020-06-04T15:35:00","modified_gmt":"2020-06-04T15:35:00","slug":"zoom-saw-a-huge-increase-in-subscribers-and-revenue-thanks-to-the-pandemic","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2020\/06\/04\/zoom-saw-a-huge-increase-in-subscribers-and-revenue-thanks-to-the-pandemic\/","title":{"rendered":"Zoom saw a huge increase in subscribers \u2014 and revenue \u2014 thanks to the pandemic"},"content":{"rendered":"

Everyone’s using Zoom, and it shows<\/p>\n

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Zoom had a blockbuster quarter as its app became the hottest videoconferencing service of the pandemic. In an earnings report<\/a> today, Zoom reported making $328 million in revenue during its February–April quarter. That’s up far more than double from the same time last year, when it made $122 million, and it comes in well above the $200 million that Zoom expected it would make when it issued guidance just a few months ago.<\/p>\n

Zoom doesn’t say exactly how many people used its software over the past few months, but the company claims it added an “unprecedented number of free participants,” including more than 100,000 K-12 schools. Zoom now has around 265,400 customers with more than 10 employees, a number that’s grown 354 percent, the company says, and it added 175,000 licenses for new customers. That significant increase in usage has come with a significant increase in costs, though — expenses doubled year over year to $201 million.<\/p>\n

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