Subj : Zoom reckons it's going to be around for years to come
To   : All
From : TechnologyDaily
Date : Tue Feb 28 2023 12:15:03

Zoom reckons it's going to be around for years to come

Date:
Tue, 28 Feb 2023 12:03:01 +0000

Description:
With revenue up and hybrid working continuing worldwide, Zoom sees no sign of 
slowdown just yet.

FULL STORY
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Zoom has announced strong end of year financial results, showing the apparent 
continuing appeal of its video conferencing platform even in a period where 
many companies announced mass layoffs and huge cost-cutting measures. 

The platform saw a 27% growth in customers, which CEO Eric Yuan puts largely 
down to its dedicated, and growing, enterprise customer base. 

Enterprise revenue was up a staggering 24% and accounting for more than half 
of the companys total revenue on its own, with Zoom now boasting an estimated 
213,000 Enterprise customers. Zoom end-of-year results 

Total revenue for the fiscal year was up 7% year-over-year to the sum of 
$4.39 billion, with the final quarter accounting for almost exactly a quarter 
of that, at $1.12 billion (up 4% YoY). 

While the macroeconomic situation continues to negatively impact our overall 
growth, we have maintained a healthy balance sheet," Yuan said. 

Zooms predictions for the future are slightly more modest than its recent 
successes, but it still measures a healthy growth with fiscal year 2024 
revenue estimated to sit between $4.44 and $4.46 billion. Read more 

 > These are the best online collaboration tools 


 > Zoom becomes the latest tech giant to announce major job cuts 


 > Zoom is going to work a lot closer with one of its biggest rivals, and I 
couldn't be happier 

While Zoom has an aspirational outlook for the year ahead, it has not been 
immune from the struggle facing almost every technology firm in recent months 
as spending has slowed down. Just days after its fourth quarter ended, the 
company announced the redundancies of around 1,300 workers, or 15% of its 
headcount - one of the most significant layoffs proportionally with other 
companies tending to stick below 10%. 

Zoom owes much of its success to the continuing trend of hybrid working, with 
companies being forced to spend on video calling suites to enable 
collaboration among workers. With no immediate sign of a mass return to 
office, the company looks to be in a fairly good spot for some time yet. Weve 
rounded up all the best hybrid working tech you need to focus your spend on



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Link to news story:
https://www.techradar.com/news/zoom-reckons-its-going-to-be-around-for-years-t
o-come


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