Free Zoom meetings won't be getting this privacy feature any time soon

Zoom earnings soar as video meets become pandemic norm

Zoom booms as pandemic drives millions to its video service

Looking ahead into the Q2, the company expects total revenue in the range of $495-500 million and adjusted earnings in the range of $0.44-0.46 per share. Analysts, on average, expected US$203 million, according to data compiled by Bloomberg. Sales for the full year, it said, are likely to be roughly $1.78 billion to $1.8 billion, reflecting demand for remote work.

Our now-obligatory earnings caveat: Analysts are contending with an extremely uncertain environment, so beating expectations is a little less straightforward these days. Also, the company earned 20 cents per share in the recent quarter, which is more than twice the analysts' estimate of 9 cents.

Zoom didn't share how many users overall it has, which is interesting given that company said in April it has 300 million daily users and then corrected itself by saying it's actually "300 million daily meeting participants", not users.

This story was first published on CNN.com, "Zoom's revenue soars 169% as people flock to service during pandemic".

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GAAP net income attributable to common stockholders for the quarter was $27.0 million, or $0.09 per share, compared to GAAP net income attributable to common stockholders of $0.2 million, or $0.00 per share in the first quarter of fiscal year 2020.

Despite its countless privacy and security flaws, Zoom continues to march on, raking in more and more users (free as well as paying), and making more and more money.

Zoom said it expects full-year sales to be up to $1.8bn, doubled what it said just three months ago, although it warned that more of its new customers were on monthly plans instead of being locked into long-term contracts.

Eric Yuan, CEO of Zoom Video Communications takes part in a bell-ringing ceremony at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019.

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"Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives".

Zoom also offers a free version of its service, another factor in its popularity at a time when about 40 million people in the US have lost their jobs since mid-March, raising the specter of the worst economic downturn since the Great Depression of the 1930s.

Corporate clients will get access to Zoom's end-to-end encryption service now being developed, but Yuan said free users won't enjoy that level of privacy, which makes it impossible for third parties to decipher communications. The recent quarterly numbers show that Zoom is here to stay.

Zoom's success is also drawing stiffer competition from much larger companies, including Microsoft, Google and Facebook.

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Yuan told analysts that Zoom owed a lot of thanks to partners such as Amazon Web Services Inc., which was able to provision the majority of the new service it needed when its data centers suddenly found themselves overwhelmed by traffic surges.

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