Zoom saw revenues jump 12 per cent to $1.07 billion in the first quarter of 2022 as workplaces began to consolidate the hybrid working model.

The video conferencing platform, which has experienced hypergrowth since the beginning of the COVID-19 pandemic in 2020, also reported that net profits had halved to $113.6 million in the three months to April 30.

However, the tech firm raised its forecast for operational income for 2022 from $1.43 billion and $1.45 billion to between $1.48 billion and $1.5 billion.

The company said that the number of customers contributing more than $100,000 in trailing 12 months revenue was up 46 per cent on a year-on-year basis.

Net cash provided by operating activities was $526.2 million for the first quarter, compared to $533.3 million in the first quarter of fiscal year 2022.

Commenting on the move, Zoom founder and chief executive, Eric S. Yuan said: “In Q1, we launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work. We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers.

He added:“Additionally in Q1, we delivered revenue of over one billion dollars driven by ongoing success in Enterprise, Zoom Rooms, and Zoom Phone, which reached 3 million seats during the quarter. We also maintained strong profitability and cash flow, including 17 per cent in GAAP operating margin, approximately 37 per cent non-GAAP operating margin, approximately 49 per cent operating cash flow margin, and over 46 per cent adjusted free cash flow margin.”

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