Bulletin
Investor Alert

London Markets Open in:

July 19, 2021, 9:05 a.m. EDT

Zoom plans to continue growing after the pandemic

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Amazon.com Inc. (AMZN)
  • X
    Alphabet Inc. Cl C (GOOG)
  • X
    Microsoft Corp. (MSFT)

or Cancel Already have a watchlist? Log In

Jul 19, 2021 (IAM Newswire via COMTEX) -- The pandemic made us change how we work and live. And these new conditions are not a perfect fit for all businesses. But, some businesses were just waiting for an opportunity like this. Most tech and e-commerce companies have just flourished during the previous year, so we saw some great growth from Amazon /zigman2/quotes/210331248/composite AMZN +1.09% , Alphabet's Google /zigman2/quotes/205453964/composite GOOG +0.93% , and Microsoft /zigman2/quotes/207732364/composite MSFT +1.28% . One of the biggest beneficiaries of distance schooling and remote working is Zoom Video Communications, Inc. /zigman2/quotes/211319643/composite ZM -0.10% . When the company finished its fiscal 2020 with revenues of $623 million and net profit of $ 22 million, and the following fiscal year which ended this January 31, the revenues skyrockets to $2.6 billion with a net profit of $671, that must be some amazing tailwind! That growth will be hard to repeat. Still, Zoom is moving ahead to secure its business does not decrease when we go back to our offices, or at least when we shift to hybrid work.

Acquisition of Five9

After acquiring a startup Keybase Inc. last year, which enabled Zoom to complete its videoconferencing service with end-to-end encryption capabilities, and a translation software company Kites GmbH last month, Zoom decided on its biggest acquisition. The latest target is Five9, Inc. /zigman2/quotes/209043265/composite FIVN +0.51% , a secure and highly scalable cloud-based contact center, with over 2,000 customers including Under Armour, Inc. /zigman2/quotes/208967132/composite UA +1.33% and Citrix Systems, Inc. /zigman2/quotes/206700852/composite CTXS +0.32% . Five9's call center processes over 7 billion minutes of calls per year. This will provide additional support to Zoom's phone business and enable Zoom to enter a contact center market worth $24 billion. The popularity of cloud-based contact centers has been rising over the past years, and it was additionally accelerated during the pandemic, as it allows the staff to work remotely. The deal is expected to close in the first half of 2022 for $ 14.7 billion.

Market & outlook

In the first three months of fiscal 2022, Zoom's revenues continued to rise to $956 million, which is a jump of 191%, compared to the same period the year before. Maybe Zoom has some amazing momentum at the moment, but it is not the only company thinking about the major acquisition. Salesforce.com /zigman2/quotes/200515854/composite CRM +0.47% , famous for its cloud-based customer relationship management service and other software, agreed to acquire Slack Technologies, Inc. for its business communication platform and other solutions, for $27.8 billion. A similar example is Advanced Micro Devices, Inc. /zigman2/quotes/208144392/composite AMD +1.52% 's $35 billion acquisition of Xilinx, Inc. /zigman2/quotes/209389378/composite XLNX +1.70% .

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you

The post Zoom plans to continue growing after the pandemic appeared first on IAM Newswire .

COMTEX_390042980/2618/2021-07-19T09:04:43

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,380.05
+36.42 +1.09%
Volume: 2.41M
Sept. 22, 2021 4:00p
P/E Ratio
58.91
Dividend Yield
N/A
Market Cap
$1693.35 billion
Rev. per Employee
$297,430
loading...
/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 2,818.77
+25.84 +0.93%
Volume: 1.10M
Sept. 22, 2021 4:00p
P/E Ratio
30.56
Dividend Yield
N/A
Market Cap
$1857.95 billion
Rev. per Employee
$1.35M
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 298.58
+3.78 +1.28%
Volume: 26.62M
Sept. 22, 2021 4:00p
P/E Ratio
37.07
Dividend Yield
0.83%
Market Cap
$2215.39 billion
Rev. per Employee
$928,663
loading...
/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 277.95
-0.29 -0.10%
Volume: 2.97M
Sept. 22, 2021 4:00p
P/E Ratio
83.97
Dividend Yield
N/A
Market Cap
$82.67 billion
Rev. per Employee
$599,586
loading...
/zigman2/quotes/209043265/composite
US : U.S.: Nasdaq
$ 171.04
+0.87 +0.51%
Volume: 903,098
Sept. 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.53 billion
Rev. per Employee
$280,767
loading...
/zigman2/quotes/208967132/composite
US : U.S.: NYSE
$ 18.28
+0.24 +1.33%
Volume: 1.75M
Sept. 22, 2021 4:03p
P/E Ratio
23.27
Dividend Yield
N/A
Market Cap
$9.00 billion
Rev. per Employee
$269,432
loading...
/zigman2/quotes/206700852/composite
US : U.S.: Nasdaq
$ 109.04
+0.35 +0.32%
Volume: 1.88M
Sept. 22, 2021 4:00p
P/E Ratio
37.77
Dividend Yield
1.36%
Market Cap
$13.50 billion
Rev. per Employee
$359,633
loading...
/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 259.17
+1.20 +0.47%
Volume: 4.35M
Sept. 22, 2021 4:00p
P/E Ratio
103.76
Dividend Yield
N/A
Market Cap
$252.55 billion
Rev. per Employee
$375,437
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 104.38
+1.56 +1.52%
Volume: 34.08M
Sept. 22, 2021 4:00p
P/E Ratio
37.27
Dividend Yield
N/A
Market Cap
$124.72 billion
Rev. per Employee
$774,841
loading...
/zigman2/quotes/209389378/composite
US : U.S.: Nasdaq
$ 153.82
+2.57 +1.70%
Volume: 1.11M
Sept. 22, 2021 4:00p
P/E Ratio
50.33
Dividend Yield
0.00%
Market Cap
$37.43 billion
Rev. per Employee
$643,681
loading...

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.