Posts tagged with "Record High"

Virtual Meeting illustration by Heather Skovlund for 360 Magazine

Zoom Hits A Record High

Zoom Hit a Record High Quarterly Revenue of $882.5 Million, Almost a 370% Increase YoY

Zoom’s revenues skyrocketed last year as global demand for online meeting solutions soared amid the COVID-19 lockdown. Although the popular video conferencing platform generated impressive revenue through its fiscal year 2021, the year’s final quarter set a new record.

According to data presented by BuyShares, Zoom hit a record high quarterly revenue of $882.5 million in Q4 FY 2021, almost a 370% increase year-over-year.

Annual Revenue Soared by 700% in Two Years

Unlike many other sectors, the video conferencing platforms witnessed explosive growth amid the COVID-19 crisis, as millions of people started working from home. However, Zoom emerged as the most preferred platform for holding virtual meetings. As countries across the globe-imposed lockdowns, family members also turned to Zoom as a way of keeping in touch with each other. Museums, theatres, and schools chose the platform to maintain normal operations.

With the ban on social gatherings, Zoom also became a cultural phenomenon through hosting parties, concerts, church services, and art shows. The surge in the number of users led to a 700% revenue growth in two years.

In the fiscal year 2019, Zoom generated $330.5 million in revenue, revealed the company’s earnings report. Over the next twelve months, this figure jumped by more than 88% to $626.6 million. The two-digit increase was driven by a strong Q4 FY 2020, matching the period between January and March 2020, when the pandemic already struck. Zoom’s quarterly revenue jumped by 78% YoY in this three-month period and hit $188 million.

The strong increasing trend continued in the following months, with revenue rising to $328.1 million in the second quarter of the calendar year 2020. Statistics show this figure more than doubled in the next three-month period and hit $663.5 million.

However, the fourth quarter of the fiscal year 2021, matching the period between January and March 2021, delivered the highest quarterly revenue in Zoom`s history, causing annual revenues to rise above the expectations to $2.65bn.

Almost 70% of that value, or $1.83bn, was generated in the Americas as the largest Zoom market. Users from the EMEA region, as the second-largest market, generated $486 million in revenue. Asia followed with $332.8 million, respectively.

Market Cap Soared by 357% Year-Over-Year

While the Zoom stock price has increased steadily throughout 2020, a positive announcement regarding the efficiency of a COVID-19 vaccine in November last year resulted in the price falling by more than 30% by the end of the year.

Since then, the share price has been fluctuating and in recent months saw even more of a downturn, reaching $328.95 last week.

In December 2020, the combined value of Zoom shares stood at $115.5bn, revealed the MacroTrends data. Over the last four months, this figure dropped to $96.6bn, still a 357% increase year-over-year.

The full story can be read here

As Airline Satisfaction Climbs to Record Highs, Line Blurs Between Low-Cost and Traditional Carriers, J.D. Power Finds

Alaska Airlines Ranks Highest among Traditional Carriers for 12th Consecutive Year; JetBlue Airways and Southwest Airlines Tie for Highest Rank among Low-Cost Carriers

Is this the golden age of air travel? According to the J.D. Power 2019 North America Airline Satisfaction Study, SM a combination of newer planes, better ticket value and improved customer touchpoints have driven overall satisfaction with airlines to its highest point in history, up 11 points (on a 1,000-point scale) from last year’s record-setting performance. The surge is driven by significant improvements among traditional carriers, while satisfaction slowed with low-cost carriers.

“Airlines continue to deliver on the operational side of air travel,” said Michael Taylor, Travel Intelligence Lead at J.D. Power. “New technology investments have dramatically improved the reservation and check-in process. Fleets are newer and travelers generally feel that they are getting great value for their money. These improvements have been most profound in the traditional carrier segment, where customer satisfaction has climbed considerably.

“While low-cost carriers have historically had the highest levels of customer satisfaction in our study, due to a strong sense of value for money among customers, that line is starting to blur as traditional carriers improve their services and operations,” Taylor added. “The one area where both traditional and low-cost carriers can still improve, however, is in in-flight services. It continues to be the lowest-ranked factor in the study, as many airlines still struggle with in-flight entertainment, connectivity, in-seat power, and food service.”

Following are some of the key findings of the 2019 study:

  • Record-high customer satisfaction: Overall satisfaction with airlines increases 11 points to 773, continuing an eight-year trend of satisfaction improvement.
  • Improvement is driven by traditional carriers: This year’s significant gains in customer satisfaction are driven by the traditional carriers, whose segment satisfaction score improves 22 points from 2018. The low-cost segment—while still having higher overall satisfaction than the traditional carrier segment—declines 6 points from 2018, thus driving a segment convergence in satisfaction.
  • Tech investments in reservation and check-in systems pay off: The reservation and check-in experiences are the most satisfying portions of the airline experience, driven by investments in digital check-in technologies, self-service kiosks and a concerted effort among airlines to improve the efficiency of the pre-flight process.
  • In-flight service remains a stumbling block: In-flight services, such as seatback entertainment, food service, and Wi-Fi continue to be the lowest-ranked part of the air traveler experience. Specific in-flight amenities that have the greatest positive effect on customer satisfaction are fresh food, seatback games and seatback live television.

Study Rankings

Among traditional carriers, Alaska Airlines ranks highest for the 12th consecutive year, with a score of 801. Delta Air Lines (788) ranks second and American Airlines (764) ranks third.

Among low-cost carriers, JetBlue Airways (817) and Southwest Airlines (817) rank highest in a tie. For Southwest, this is the third consecutive year at the top of the J.D. Power ranking.

Among Canada-based airlines, Air Canada (729) saw its customer satisfaction score declined 5 points from 2018. WestJet (758) saw its score increase 11 points but remains below the low-cost carrier average.

The North America Airline Satisfaction Study, now in its 15th year, measures passenger satisfaction with airline carriers in North America based on performance in seven factors (in order of importance): cost and fees; in-flight services; aircraft; boarding/deplaning/baggage; flight crew; check-in; and reservation. The study measures passenger satisfaction among both business and leisure travelers and is based on responses from 5,966 passengers who flew on a major North American airline between March 2018 and March 2019. The study was fielded from April 2018 through March 2019.

For more information about the North America Airline Satisfaction Study, visit http://www.jdpower.com/business/resource/jd-power-north-america-airline-satisfaction-study.

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J.D. Power is a global leader in consumer insights, advisory services, and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth, and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific, and Europe.