Video conferencing app Zoom revenue reaches $777 mn in Q3

US-based video conferencing app Zoom has quadrupled its revenue to $777.2 million in its third fiscal quarter that ended on October 31.
Zoom video conferencing appZoom revealed that it expects revenue of approximately $2.575 billion to $2.580 billion for fiscal year 2021 — approximately 314 percent increase year-over-year.

Zoom expects revenue between $806 million and $811 million for its fourth quarter for the fiscal year 2021.

Zoom said in a statement that it has approximately 433,700 subscribers with more than 10 employees, up from 370,200 in the last quarter.

The number of customers contributing more than $100,000 in revenue is now 1,289 — up 136 percent from last year.

“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom,” said Zoom founder and CEO Eric S Yuan.

Zoom has maintained its popularity despite tough competition coming from Microsoft Teams, Google Meet and Slack.