Zoom optimistic about growth in Asia Pacific despite weaker outlook

on Jul7
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Zoom sees 'strong growth' across APAC region despite weaker outlook

Zoom is “doubling down” on its technical investments in the Asia-Pacific region as it seeks to strengthen growth, said the video communications company on Friday. 

There’s “lots of activity happening in Asia, across all of APAC. We made a strong commitment about two years ago to really turn on the speed and step on the gas,” Abe Smith, Zoom’s head of international, told “Squawk Box Asia.”

“Whether it’s here in Singapore, where we have a full data center … [or] in India, an effort forward with a R&D center in both Chennai and Bangalore.” 

That’s in spite of headwinds the company has been facing in the post-pandemic era as more people return to the office and business trips resume. 

Shares of Zoom fell about 45% in the past year.

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Zoom CFO Kelly Steckelberg: We are very much pleased with our Q1 results

However, Smith said Zoom is “extremely optimistic” about the growth of its phone product in Asia Pacific.

Zoom’s cloud based phone solution — which offers services like unlimited domestic calls, SMS messaging and call recording — now makes up 10% of its revenue, he added.  

“That product grew over 100% year over year, it represents more than five and a half million seats today,” said Smith.

“We’re going to deliver a limitless human connection … across a myriad of products … that allow people to connect and communicate with flexibility and by choice.” 

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