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COVID-19 Impact on Zoom Sales and Profit

September 4, 2020|MONEY

Why is this article important to you and Generation Z?:
Zoom has become an essential part of life. For Generation Z, Zoom is mostly being used for education, work, and social purposes. Because Zoom has made the pandemic easier to handle for Generation Z, we must understand the company's financial aspect and functionality and privacy concerns attached to the platform. 


During the pandemic, Zoom's sales increased more than ever before. 

According to NPR, on August 31st, Zoom reported higher profit and sales in the summer of 2020 than all of 2019. Last quarter, Zoom surpassed all economic expectations. Specifically, the company quadrupled its earnings from 2019 and increased sales from $5.5 million in 2019 to $185.7 million as of Monday, August 31st.


The world has been tasked with adapting to remote work and education. Zoom is the primary videotelephony and online chat service that made the COVID-19 transition easier. The platform has helped many industries stay connected with their communities. Amongst many other advantages, Zoom allows for virtual entertainment, online school, teleconferences, community relations, and virtual health care visits to function in a safe manner.

Although sales and profits have flourished, the company still faces similar challenges to other telecommunications platforms. Last week, the dense number of schools and businesses resuming work caused the platform to shut down for a brief period. Privacy concerns have also circulated as many companies conduct important business operations on Zoom. 

- Chloe Davis


Source: NPR

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