NEW DELHI: Video-chat service Zoom beat its own revenue guidance as well as analysts’ forecasts, reporting a 169% year-on-year growth in its March quarter (Q1) revenues to $328.2 million from $122 million in the year-ago period.
Both estimates were pegged at around $200 million. The company, a big beneficiary of the covid-19 pandemic fallout, almost doubled its revenue guidance for the fiscal year.
It now expects it to come between $1.7 billion and $1.8 billion. Video conferencing, webinars and collaboration tools are at the core of Zoom’s business.
The company gained hundreds of millions of new users almost overnight as countries worldwide went into lockdown to tackle the spread of covid-19, forcing companies and people to look for video