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Zoom revenue up by more than 300 percent year-on-year

Image Credit: Bruce Mars / Pixelbay
(Image credit: Image Credit: Bruce Mars / Pixelbay)

Popular video conferencing platform Zoom (opens in new tab) has reported a dramatic Q2 revenue increase, beating out all analyst expectations by a significant margin.

Zoom revenue has grown 355 percent since last year - after an increase of 169 percent recorded in Q1 - with the majority of the rise attributed to new customer subscriptions (81 percent).

According to a CNBC (opens in new tab) report, the company's income topped $180 million, up from $5.5 million this time last year, while gross margin jumped 72.3 percent.

The most significant increase, perhaps expectedly, was in the number of monthly active users – up 4,700 percent. When lockdown was in full swing, Zoom averaged 148.4 million users.

According to market analysts Refinitiv, Zoom (opens in new tab)  was expected to hit a price per share of 45 cents, but ultimately reached 92 cents per share. As for revenue, the firm brought in $663.5 million, with analysts expecting approximately $500 million in earnings.

Zoom shares were up 25 percent after-hours on the news and up 369 percent since the start of the year (excluding the most recent after-hours spike).

Sead Fadilpašić
Sead Fadilpašić

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.