Video conferencing company Zoom shows how it was cashed in during the coronavirus lockdown

Zoom’s virtual test and party may be out of date, but on Tuesday the video conferencing company will reveal how they made their money during the lockdown.

The California-based company, founded by entrepreneur Eric Yuan, is set to post increasing profits as stocks reach new heights. Many companies continue to use the software while employees work remotely.

Zoom is expected to show a triple gain to £ 62 million in the three months to July, compared with the same period last year after soaring popularity during the coronavirus crisis.

Sales are expected to be around £ 370 million – an increase of about 240 percent.

Friends, family, and coworkers use Zoom calls to stay in touch as countries around the world implement lockdown measures.

The company is paying to use the software, and Zoom hopes to convert more subscribers who use the free service into paying customers in the future.

The company sailed on the Nasdaq in April last year for an estimated £ 7 billion. But stocks rose to new highs last week, valuing the company at £ 63 billion.

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