Shares have tripled this year and climbed a further 4.4pc after its results to value the company at more than $60bn (£48bn).
For the three months ended April, Zoom's total quarterly revenue grew 169% year-over-year to $328 million, which significantly exceeded the guidance Zoom provided in March and analysts' consensus.
Its stock is up more than 200% year to date.
Sales in the current quarter will be as much as $500 million, the San Jose, California-based company said Tuesday in a statement. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share. The company saw a massive jump in meeting participants during the month of April as worldwide lockdowns began, with over 300-million participants on the platform.
Free cash flow was $251.7 million, compared to $15.3 million in the first quarter of fiscal year 2020.
The CNBC report quotes Bernstein analysts who have estimated that Zoom app has had 173 million active users by the end of May.
Despite its potential security flaws and privacy issues, Zoom has struck gold.
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NY state's top prosecutor last month announced that Zoom would improve security measures, after flaws were detected as the video conferencing platform soared in popularity amid the coronavirus pandemic.
The company said its expects adjusted profit in the fiscal year will be US$355 million to US$380 million, or US$1.21 to US$1.29 a share.
On a Zoom call with investors, Chief Executive Eric Yuan said Amazon provided the "majority" of new capacity that Zoom needed to meet demand.
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. Trolls have invaded myriad meetings, religious gatherings and other events, to share pornography and shout profanity or racial epithets, in a phenomenon known as "Zoombombing".
Zoom has actually ended up being the application several are utilizing to remain in touch with good friends, family members and also job associates. The company also acquired encryption startup Keybase and has announced that it will offer better encryption for paid customers.
It is too soon to tell if monthly customers are abandoning Zoom in places where pandemic shelter-in-place rules are being eased because "even there people are taking their time to go back to work", according to chief financial officer Kelly Steckelberg.
Although Zoom has not revealed exactly how many people it has added to its platform in the last quarter, it did reveal that there were an 'unprecedented number of free participants.' The list also included over 100,000 K-12 schools.