Zoom said on Tuesday that sales jumped 169% year-on-year in the three months to 30 April to $328.2m, as it added more than 180,000 customers with more than 10 employees since January - far more than it had expected.
Chief Executive Officer Eric Yuan has tried to ensure that his virtual-meeting platform can cope with a swell of demand from people staying home to curtail the spread of Covid-19.
Zoom CEO confirmed that they want to be friendly with local law enforcement agencies in order to prevent misuse of the platform.
In April, the company garnered ire for offering up misleading figures claiming the service had 300 million daily active users.
Zoom Video expects full-year earnings in the range of $1.21 to $1.29 per share, with revenue ranging from $1.78 billion to $1.8 billion.
Analyst Charles King of Pund-IT Inc. told SiliconANGLE that Zoom is an interesting and timely example of a company being in exactly the right place at the right time, even if those times are troubled ones for many of its users. The addition of new users, majority non-paying, also narrowed Zoom's gross margin from 82.7% in the previous quarter to 68.4% in this quarter. The company gained hundreds of millions of new users nearly overnight as countries worldwide went into lockdown to tackle the spread of covid-19, forcing companies and people to look for video chat services like Zoom and Microsoft Teams for work purposes.
'He Thinks Division Helps Him': Biden Condemns Trump's Protest Response
While 85 percent overall say they "definitely" will vote, that sentiment is significsantly lower among black voters at 77 percent. Trump made no attempt to link Floyd's death to any broader question.
Carole Baskin Awarded Control Over Joe Exotic's Zoo
The Oklahoma zoo at the center of the Netflix documentary " Tiger King " is on the verge of changing hands via court order . Exotic is now serving his 22-year sentence in prison for his participation in a murder-for-hire plot against Baskin .
Google postpones Android 11 Beta release earlier scheduled for next week
They also said that " now is not the time to celebrate ". "We'll be back with more on Android 11, soon", the company said . The response to the death of George Floyd in Minnesota has extended well beyond the conflict in Minneapolis.
After a shaky start to Q1 where the videoconferencing service was riddled with security and privacy flaws, Zoom began to pay closer attention to patching out these issues. For its full fiscal year, Zoom now expects revenue of about $1.8 billion, almost tripling in a year.
Zoom's stock was down 1.5% in after-hours trading, though it has gained more than 200% since the beginning of the year. "They have this fantastic brand. now they have to leverage that brand and figure out which markets they're going to go after".
"Zoom has to make good on its security commitments and then needs to find advanced and better ways to conduct meetings, webcasts, collaboration with business applications and more", Mueller said.
"A shift in work culture triggered by the Covid-19 pandemic urges corporations to pull forward adoption of cloud-based video-conferencing tools", Boyoung Kim, an analyst at Bloomberg Intelligence, wrote Tuesday in a note.
However, the record quarterly and promising outlook are shadowed by a lower margin due to higher demand from free users.
In particular, the need for increased computer capacity from services such as Amazon Web Services cut gross margins from 82.7 per cent to 68.4 per cent.