Zoom says it’s not going anywhere just yet
Video calling giant Zoom says it is looking at a shift in focus as it looks to evolve and move with the changing work environment.
The video conferencing company has revealed its latest quarterly results at the end of its FY 2022, showing another strong performance even as workers around the world return to the office, but its weaker outlook for the year ahead did raise some eyebrows.
Overall, Zoom saw Q4 FY2022 revenues of $1.07 billion, up 21% year on year, with total revenues for the whole of its FY2022 of just over $4 billion, up 55% year over year, with net income of $1.37 billion.
Zoom future
In order to stay successful going forward, Zoom says it is now looking to set its sights on larger, enterprise customers.
“In fiscal year 2022, we delivered strong results…along with increased profitability and operating cash flow growth as our global customer base continued to grow and find new use cases for our broadening communications platform,” said Zoom founder and CEO, Eric S. Yuan.
“Looking forward, we are addressing a large opportunity as we expect customers will continue to transform how they work and engage with their customers. It is apparent that businesses want a full communications platform that is integrated, secure, and easy to use. We are proud to lead the charge of the digital transformation for communications.”
After seeing a huge rate of growth during the pandemic, many have questioned how Zoom can stay relevant and profitable as the return to the office continues.
However the company has remained bullish, saying it can play an important role in the post-pandemic world through helping facilitate and encourage hybrid working as employees look to split their time between the office and a more comfortable home environment.
It has also been testing the waters in several new areas and industries, including the launch of Zoom Contact Center, a customer service platform that lets companies quickly interact with customers.
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