Zoom Communications company has disclosed it made $328M as profit during the Coronavirus panedemic lockdown of February and April.
Lagos Today gathered that the company made twice more of the revenue made last year with $122M
This came in well above the $200 million that Zoom expected it would make when it issued guidance just a few months ago.
It learnt that 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.
