Zoom Profits Soar 367%

Profits for video meeting platform Zoom soared a whopping 367% over the summer.

The video chat platform saw third-quarter revenue of $777.2 million. A year ago, most people had never even heard of Zoom. Then the COVID-19 pandemic hit sending work meetings, classrooms, book clubs, yoga classes, and even family holidays onto the virtual platform. The company added 433,700 paying customers in just three months.

For the year, the company expects to earn between $2.575 billion to $2.580 billion, a 314% increase year-to-year.

Zoom is free for home users, but those who need larger meetings, longer durations, and the ability record longer meetings can use the paid plan.

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