Zoom sees more growth after 'unprecedented' 2020

Zoom sees more growth after 'unprecedented' 2020

Zoom boss Eric Yuan, whose business exploded during the pandemic, says working from home is here to stay.

The video conferencing company expects sales to rise more than 40% this year, reaching more than $3.7bn (£2.66bn).

The forecast pushed shares in the company up more than 6% in after-hours trade in New York.

Investors have been watching for clues as to how the firm would fare as more people get vaccinated and social distancing restrictions lift.

Zoom said it did not expect growth to continue at the pace it enjoyed last year, but so far business remains strong.

The firm’s sales in the last three months of 2020 were up 370% compared to the same period in 2019, hitting $882.5m.

“The fourth quarter marked a strong finish to an unprecedented year for Zoom,” company boss Eric Yuan said. “As the world emerges from the pandemic, our work has only begun.”

bbc

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