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Zoom chief Eric Yuan, whose business has exploded during the coronavirus pandemic, said work from home is here to stay.
The video conferencing company said it expects its sales to grow more than 40% this year, reaching more than $ 3.7 billion. The forecast caused shares in the company to rise above 6%, in trading in New York. Zoom said it does not expect growth to continue at last year’s pace, but so far, “business remains strong.”
The firm’s sales in the last three months of 2020 have increased by 370% compared to the same period of 2019, reaching 882.5 million dollars. “The fourth quarter marked a strong end to an unprecedented year for Zoom. “Until the world emerges from the pandemic, our work has just begun,” said company chief Eric Yuan.
The pandemic has caused many businesses around the world to shift work from home office and Zoom has become one of the essential overnight platforms.
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