Zoom’s total revenue for Q1 up 191% year-over-year
Zoom Video Communications have announced financial results for the first fiscal quarter ended April 30 2021.
Total revenue for the first quarter was $956.2m, up 191% year over year.
Over the same time period, Zoom had approximately 497,000 customers with more than 10 employees, up approximately 87%.
Zoom founder and CEO, Eric S. Yuan said: “We kicked off the fiscal year with a very strong first quarter, posting 191% total year-over-year revenue growth combined with strong profitability and cash flow. Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results. With this solid start, we are pleased to raise our total guidance range to $3.975 billion to $3.990 billion for the full fiscal year.
“We have also opened our technology portfolio to developers through our powerful video SDK and to businesses to expand their reach through Zoom Events. Work is no longer a place, it’s a space where Zoom serves to empower your teams to connect and bring their best ideas to life. We are energized to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections.”