(Yicai Global) June 3 -- American video conferencing firm Zoom Video Communications posted USD27 million in profit for its fiscal first quarter ended April, 134 times more than it made in the year-ago period thanks to the Covid-19 pandemic forcing many workers to fulfill their duties from home.

Revenue nearly tripled to USD328.2 billion, the California-based firm said in its quarterly report published yesterday. It expects second-quarter revenue to grow to around USD500 million and full-year income to close in on USD1.8 billion.

“The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom,” said founder and Chief Executive Eric Yuan. “Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives.”

Around 265,400 of Zoom’s customers have more than 10 employees, close to five times as many as a year earlier, it said. 769 customers contributed more than USD100,000 in revenue over the trailing 12 months, up 90 percent.

Daily free and paid participants peaked at over 300 million, up from just 10 million in December, and its annualized meeting minutes run rate metric multiplied 20 times over to 2 trillion minutes from the end of January.

Shares in Zoom [NASDAQ:ZM] were up 1.93 percent at USD208.08 when the Nasdaq closed yesterday, before the firm published its figures. Its share price has almost tripled this year.

Editor: James Boynton