Zoom Video Communications, the company behind the popular online videoconferencing tool of the same name, has posted its earnings results for its fiscal 2021 fourth quarter and as well the full year, which in actuality is the fiscal year ending January 31, 2021. The company reported record profit and revenue as it wrapped up a year of unprecedented user growth that was spurred by the Covid-19 pandemic.

• Zoom reported $672.3 million in net income on $2.65 billion in revenue in its fiscal full-year 2021, compared to a net income of $15.3 million on $622.7 million in revenue in the previous year.

• In its fiscal 2021 fourth quarter, Zoom reported $882.5 million in revenue, up 369% year-over-year, and a net income of $260.6 million.

• As of the end of its fiscal 2021, Zoom reported having 467,100 business customers with more than 10 employees and 1,644 such customers each contributing over $100,000 in annual sales.

• The company ended its fiscal year 2021 with $4.2 billion of cash and marketable securities on its balance sheet, buoyed by a share sale that brought in $1.75 billion of cash proceeds this January.

Forecast

For its next fiscal year, 2022, Zoom is projecting that it’ll bring in around $3.8 billion in revenue. For the first quarter of the fiscal year which’s the current quarter that Zoom is in, it’s projecting to bring in between $900 million and $905 million in revenue.

On the release of its latest earnings results, the company’s share price rose as much as 7% during trading on Tuesday. It (NASDAQ:ZM) currently (as of writing) trades for about $414 per share, having a market value of over $120 billion.

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