Growing enterprise revenue boosts Zoom’s first-quarter growthon May 23, 2023 at 14:52 Computerworld
Despite falling revenue from online sign-ups, videoconferencing company Zoom remains positive about its future outlook, posting a 5% year-on-year increase in total revenue for the three months to April 30.
The company saw unprecedented levels of growth during the COVID-19 pandemic but since the end of global lockdown orders has sought to pivot to connect workers both inside and outside the office to stabilize its long-term growth.
Reporting results for the first quarter of its 2024 fiscal year, Zoom said revenue from enterprise customers—those engaged with its direct sales team or partners—represented the biggest growth area, up 13% year on year and accounting for 57% of the total revenue. The number of enterprise customers grew 9% year on year to approximately 215,900.