Remember when employees were sent home when the severity of the pandemic became clear and the only way they could communicate and collaborate was via Zoom?
Several years later, the video conferencing platform is still growing and it doesn’t look like the working world will ever fully return to the office.
Additionally, Zoom is jumping on the AI bandwagon and by staying on top of this emerging trend, Zoom continues to see revenues grow.
Zoom goes from success to success
The company has recently announced its quarterly earnings, citing strong demand for its AI-powered collaboration tools designed to meet hybrid work models. In the most recent three-month period, Zoom reported revenue of $1.16 billion, up a steady 2.1% year over year.
Since reaching record highs during the pandemic, Zoom has focused on integrating artificial intelligence into its products, including its Contact Center platform. The company is already starting to reap the rewards, with shares rising 3% in after-hours trading following the earnings announcement.
“Zoom Contact Center has won several significant customers, including our largest single order deal to date, underscoring our ability to win competitive deals for large-scale, customer-centric deployments with our higher-end packages that leverage advanced AI features to improve agent performance,” said Zoom CEO Eric S. Yuan.
But some argue that the company has been lucky enough to be in the right place at the right time twice in a row, suggesting that Zoom will need to continue expanding its product offerings to maintain its momentum and prove that it’s more than a one-time pandemic miracle.
The company now expects revenue of between $4.63 billion and $4.64 billion for fiscal 2025, an increase of about $20 million from previous forecasts.