Zoom reportedly focusing on email services to contend with Google and Microsoft
Image: Collected
Zoom Training video Communications, which had a blockbuster 12 months and became an essential provider for office meetings and family members get-togethers during the Covid-19 pandemic, is growing a contact facility that will contend with Google’s Gmail and Microsoft’s Outlook, THE INFO reported.
“The company has begun creating a web email service and may give a very early version of the merchandise to some customers next year,” THE INFO, a US digital press company, reported.
The new email services will try to give you a “next generation” experience rather than simply copying the features that users curently have and the company can be eyeing the rollout of a calendar application, the news headlines portal reported, citing sources.
The video streaming platform saw its shares grow more than 500 per cent this year and new revenue streams could make Zoom less of a single-purpose platform and help it compensate for a potential decline or stagnant growth once the pandemic subsides and life returns on track.
To explore latest technologies, Zoom increased its research and expansion spending in the 3rd quarter to the end of October to $25 million, an 80 % gross annual increase. R&D was nearly 3 % of the total earnings earned through the quarter.
People, businesses, academic institutions, universities considered Zoom on the wake of Covid-19-related activity restrictions and lockdowns.
The Nasdaq-posted company's third quarter net profit surged to $198.4m, from $2.2m in the same period a year ago. Revenue for the period jumped 367 % to $777.2m.
This month, Zoom increased its earnings outlook for the fourth quarter and full financial year, with fourth quarter earnings to hover between $806m and $811m. The business estimates full year earnings to be between $2.57 billion and $2.58bn - a lot more than 3 x its financial earnings this past year.
Zoom’s major competitors in videoconferencing domain - Google (Meet) and Microsoft (Clubs) - already are offering a bundle of offerings that include world wide web email solutions and calendar apps.
Source: https://www.thenationalnews.com
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