Zoom said Tuesday that its revenue skyrocketed 169% from the prior year to $328 million for the three months ending in April, as it became the go-to video-conferencing service for many stuck at home during the pandemic.
The company reported an even more astronomical spike in business customers. There were roughly 265,400 companies with more than 10 employees using its platform, a 354% increase from the year prior. Zoom “deployed millions of licenses for new customers,” CEO Eric Yuan said on an earnings call.
Created as a business communication tool nearly a decade ago, Zoom’s popularity exploded at the beginning of this year, as millions of people in lockdown began using it to host events ranging from birthday parties to religious events and even to cabinet meetings.
“Work-from-home and social distance initiatives have meaningfully accelerated the adoption and traffic on the Zoom video communications platform,” Yuan said.
He added that the pandemic had also resulted in a big spike in Zoom’s number of free users, who can host calls up to 40 minutes long before being asked to pay.
Read more: CNN News