Zoom Video Moves Beyond Work-from-Home
Over the course of the Covid-19 pandemic, few companies met the needs of the uncertain times better than communications company Zoom Video Communications (NASDAQ: ZM). With its suite of offerings for telecommuting and videoconferencing, "Zoom" evolved from a company into a verb.
Now that the pandemic is largely over, however (as Covid evolves into an endemic disease), what will Zoom do for an encore? We found out the answer to that question on Monday, when Zoom reported its fiscal Q1 2023 earnings, and explained how it's now focusing on "promoting hybrid work" to connect still-working-from-homers with their back-in-the-office counterparts, with products including "Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales."
In combination with Zoom's other offerings, these products helped the company grow sales 12% to $1.1 billion in Q1. Total business customers grew twice as fast -- 24% -- and customers spending more than $100,000 a year on Zoom, well, zoomed 46% higher.
Source Fool.com
