The American online video conferencing application company Zoom announced on Monday evening the continuation of the increasing difficulties it faces after the end of the boom period, which coincided with the novel coronavirus pandemic, to record losses during the fourth quarter of last fiscal year.

Zoom Inc. loses 104 million dollars during the last quarter

The company said that its total revenue during the last quarter ended January 31 increased by 4% to 1.1 billion dollars compared to the same period of the previous fiscal year, while it recorded net losses of 104 million dollars, compared to profits of 5.490 million dollars during the same period.

At the same time, zoom still expects to achieve financial results during the current fiscal year that exceed analysts ' estimates, which led to an increase in its share price by more than 6% during the hours after the official trading yesterday.

Zoom was among the companies that made significant gains from the lockdown measures to contain the emerging coronavirus pandemic in the world in 2020 and 2021, which led to its expansion in employment globally.

After the pandemic subsided, the demand for the services of such companies decreased, which led to a decline in their performance and prompted them to lay off tens of thousands of employees over the past months.

Earlier this month, zoom announced its intention to lay off 1,300 employees, representing about 15% of its workforce, in light of the uncertain economic situation. The company also announced its intention to reduce wages and bonuses for its senior employees due to financial difficulties.

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