Video conferencing business Zoom saw its sales revenue jump 169% year-on-year to $328.2m for the three months to 30 April, driven by a rapid increase in demand as the coronavirus pandemic has resulted in more remote working.
It attributed the growth to a 71% increase in subscriptions during the three months, and revealed it recorded a peak of 300 million daily participants in April, compared with 10 million in December.
However, the rapid growth meant the company has faced increased scrutiny, with founder Eric Yuan acknowledging that it had addressed specific security and privacy issues during the period.
In the results presentation Zoom noted the current environment had expanded its opportunities, and it had raised its sales revenue forecast to between $1.75-1.8bn for the financial year. But it also cautioned that the “impact and extent of the crisis and its associated economic concerns remain largely unknown” and the forecasts could be subject to change.