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Since the spread of the Corona pandemic .. revenue “Zoom” increased by 169%, today Thursday 4 June 2020 02:31 pm
The company reported an increase in the number of business customers, as there were approximately 265,400 companies employing more than 10 employees of the platform, an increase of 354% over the previous year.
“We have distributed millions of licenses to new customers,” said Eric Yuan, CEO of the company, in a profit call.
“Zoom” was established as a tool for commercial communication about a decade ago, but the platform’s popularity exploded at the beginning of this year, as millions of prohibited people began using it to continue their business, or attend events from birthday parties to religious events to cabinet meetings.
Zoom shares rose nearly 4% in the post-trading session on Tuesday after the earnings report, but later fell about 5% from Tuesday’s closing price. Until Tuesday’s close, the stock has tripled since the beginning of the year.
While Zoom’s business has benefited greatly from increased use during the epidemic, it has also received undesirable attention, as a host of security issues related to it emerged in early March, including the level of encryption it provides.