While Microsoft and Slack duke it out for enterprise market share, the relatively new contestant Zoom is not so quietly eating up both general mindshare and market share while also making a nice little profit in the process.
On Monday, Zoom reported to investors that the company's revenue earnings were $663.5 million for the quarter versus the market expectations of $500.5 million. Signaling a 335% revenue growth for Zoom year over year. The result for investors was a 92 cents per share increase beating out the estimated 45 cents the market once again predicted.
Perhaps, more importantly, Zoom's monthly active users continue to grow and were at 148.4 million for the company's fiscal second-quarter highlighting a 4,700% YoY increase.
On the heels of a stellar fiscal quarter report, Zoom is raising its guidance for the full 2021 fiscal year, expecting its fortunes to continue amid continued pandemic circumstances.
Perhaps, in preparation for Zoom's earnings results, Microsoft unloaded a sack of new features all seemingly targeted at Zoom's user base. This week's update includes improvements to the app on iOS and Android, search in chat, uploading images to galleries, generating links for free meeting invites, and a Safe Key setting as well sidebar navigation customizations.
What may have started off as a duel between Teams and Slacks is now becoming a three-way showdown for video and enterprise chat communication supremacy for Microsoft going into 2021.