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'Work no longer place, it's a space': Zoom pegs itself as must-have tool for hybrid work

'Work no longer place, it's a space': Zoom pegs itself as must-have tool for hybrid work

"We are energised to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections," said Zoom CEO Eric Yuan

Zoom aims to become an integral part of the workforce even after COVID-19 Zoom aims to become an integral part of the workforce even after COVID-19

Zoom CEO Eric Yuan batted for a hybrid work model in the video conferencing platform's quarterly results announced late on Tuesday as the firm which made a windfall during the pandemic seeks to position itself as an integral part of the workforce even after the pandemic tapers off.

"Work is no longer a place, it's a space where Zoom serves to empower your teams to connect and bring their best ideas to life. We are energised to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections," Yuan said in a statement.

The California-headquartered firm which was lesser known before the pandemic became a household name as the global health crisis forced several millions around the globe to turn to Zoom to continue working, studying and connecting with family and friends remotely.

In an analysts call after the results, Yuan said they had announced Zoom features such as smarter gallery, virtual receptionist and environment-monitoring sensors to help companies "enhance the hybrid work experience". 

In an earlier interview with CNBC last month, Zoom COO Aparna Bawa had also said that she sees hybrid working environments taking center stage in a future where Zoom becomes part of the work experience.

The Nasdaq-listed company declared its results on Tuesday after local trading hours.

For the January-April 2021 quarter, the company's total revenue jumped 191% year-on-year to $956.2 million. In the previous quarter, its revenue rose a whopping 369% as new users thronged the service in the midst of the pandemic. Zoom said it expects a revenue of $985-$990 million in the next quarter. Zoom follows a February to January fiscal year.

In the company's annual report released at the end of January 2021, Yuan had said that the company expects its revenue growth to decline in future periods due to higher market penetration, increased competition and slowing demand as the Covid-19 impact wanes marking a return to work and school.

At the end of April 2021, Zoom said it had approximately 497,000 customers with more than 10 employees, up approximately 87% from the same quarter last year. As many as 1,999 customers contribute more than $100,000 in trailing 12 months revenue, up approximately 160% from the same quarter last fiscal year.

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