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Are we all back to the office? – Zoom’s low revenue forecast for Q1 2022 seems to say so

Is working from home finally over, and are we all back in the office? We think so as the most popular video conference software provider Zoom posts a forecast for Q1 2022 that is lower than expectations.

Refinitiv, a subsidiary of London Stock Exchange Group and an American-British global provider of financial market data, had predicted that Zoom would make $1.1 billion this current quarter. However, the company is projecting something lesser. CNBC reported that sales point at the revenue coming out as between $1.07 billion and $1.075 billion.

Additionally, Zoom said that the 512,100 users it had in October 2021 were down to 509,800 in January 2022. But this does not spell doom for the tech company, as its finance officer, Kelly Steckelberg, explained.

“What’s happened over time as we see this tremendous growth in online as a channel, it started to kind of overlap there, which is why we don’t think it’s really the appropriate metric to use any longer going forward,” she said.

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In another statement, Steckelberg assured investors that its enterprise business would grow by 20% year over year in the current fiscal year. Its number of enterprise business customers has gone up by 35% and now stands at 191,000. Meanwhile, online businesses will be flat because small customers come and go frequently.

Are we all back to the office?

Since restrictions are being lifted in several countries, everyone is curious about a worldwide return to the office. The truth is that there will never be a back to normal. The pandemic has forever changed the way we work. Regardless of what Zoom’s revenue report may hint at, not all of us are going back to the office. Yet, it is undeniable that some of us have returned to the office space – be it in a hybrid or full-time format.

Additionally, the critical part of returning to the office is how the management is handling the various variants of COVID that keep raring their heads. If you or anyone you know have returned the office, we would like to hear how you or they are finding it.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.