Zoom reports 326% y-o-y increase in revenue in financial results for FY2021

Unsurprisingly, Zoom Video Communications is one of few companies benefitting from the global pandemic, reporting a 326% year-over-year increase in its total revenue for Fiscal Year 2021 (FY2021).

Also announcing results from Q4 2021, the platform revealed its total revenue was $882.5m, up 369% year-over-year, just slightly more than its revenue for Q3

“The fourth quarter marked a strong finish to an unprecedented year for Zoom,” explained Eric S. Yuan, founder and CEO of Zoom. “In FY2021, we significantly scaled our business to provide critical communications and collaboration services to our customers and the global community in response to the pandemic. We are humbled by our role as a trusted partner and an engine for the modern work-from-anywhere environment. Our ability to rapidly respond and execute drove strong financial results throughout the year.”

He continued: “As we enter FY2022, we believe we are well positioned for strong growth with our innovative video communications platform, on which our customers can build, run, and grow their businesses; our globally recognised brand; and a team ever focused on delivering happiness to our customers.”

The report also states that at the end of Q4 FY2021, Zoom had approximately 467,100 customers with more than 10 employees, which is up by around 470% from the same quarter last fiscal year.

The company expects that its total revenue for the first quarter of Fiscal Year 2022 is projected to be between $900.0 million and $905.0 million. Expecting the new remote and hybrid working trend to remain, Zoom is predicting its total revenue for full Fiscal Year 2022 to be between $3.760 billion and $3.780 billion.

Image credit: Andrey_Popov / Shutterstock.com

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