Zoom’s Quarterly Sales Revenue Just Crossed $1 Billion

Perhaps the biggest winner from the economic disruptions that were caused by the pandemic is Zoom because of the fact that this is the sort of platform that could potentially end up allowing people to work from home with ease. Quite a few people wondered if Zoom had the legs to keep growing or if this boost in usage was something that would only be temporary. However, it is important to note that Zoom just crossed $1 billion in quarterly sales revenue for the first time ever!

This is a whopping 54% increase year on year, but in spite of the fact that this is the case Zoom’s stock appears to be falling in its value. The company saw $15 billion erased from its market cap after the earnings call due to the reason that executives at the company admitted that they expected things to slow done with the pandemic drawing to a close.

However, a billion dollars is no joke and it indicates that Zoom might just be a lot more profitable than people give it credit for. The initial market panic caused by a slowdown in business might subside, and people might just end up realizing that working from home will continue to be a thing and this might result in a further increase in stock prices for the company in the long run.

Still, this revelation is something that should be taken note of. Zoom was not a huge company before the pandemic, and even now its stock price is 3 times what it was before the start of the pandemic. This means that the company might still have some growing left to do which is something that will be useful for people to take note of as they plan to invest their savings into profitable enterprises.

Read next: Study Explores the Bring-Your-Own-Device Approach in a Remote Work World
Previous Post Next Post