Zoom ups revenue outlook by 30% on Covid usage boom

Zoom rivals such as Microsoft’s Teams and Cisco’s Webex have also seen soaring usage.

Zoom has upped its sales estimates by 30%

Zoom Video Communications has raised its annual revenue forecast by more than 30% after comfortably beating quarterly estimates as it converts more of its huge free user base to paid subscriptions.

Video-conferencing platforms, once used mostly as a technological substitute for in-person meetings, became a vital part of day-to-day life this year for people stuck at home under coronavirus restrictions, be it for work, school or socialising.