Pandemic Boosts ZOOM’s Revenue Growth By 169% Year-over-year
Data obtained by Buyshares.co.uk indicates that revenue for video communication platform Zoom grew by 168.85% by the first quarter of the fiscal year 2021. During this period the revenue stood at $328 million.
Zooms revenue continues to rise
During the first quarter of the fiscal year 2020, the revenue was $122 million, accelerating the upward trajectory. By the close of the fiscal year 2020, Zoom’s total revenue stood at $623 million.
The impressive upward trajectory in Zoom revenue began during the first quarter of the fiscal year 2019. The revenue stood at $60 million, growing by 25% in the second quarter of the fiscal year 2019. The revenue then hit $90 million and $106 million in the third and fourth quarters of the fiscal year 2019 respectively. In total, Zoom’s revenue for the fiscal year 2019 was $331 million.
According to the Buyshares.co.uk data, by the second quarter fiscal year 2021, the revenue will stand at $495 million, bringing the total of Zoom’s revenue for the fiscal year 2021 to $1.77 billion.
The research also looked at countries that are currently witnessing a high Coronavirus death rate. According to the research report:
"With these countries still battling the pandemic, they are expected to witness increased Zoom adoption translating to higher revenue. "
As of June 2nd, Sweeden has the highest rate at 5.29 deaths per million people, followed by the United Kingdom at 4.48 while Peru is third with 4.35 million deaths per one million people. Brazil has 4.34 deaths per one million people while the United States closes the top five categories at 2.99.
In the sixth position, there is Canada at 2.96, followed by Mexico with 2.81 deaths per one million people. On the other hand, Chile is eighth with 2.63 followed by Armenia at 2.51 while Belgium closes the top ten categories with 2.14 million deaths per million people.