Market Overview

Zoom CFO Talks New Environment: 'More Efficient And Effective'

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Zoom CFO Talks New Environment: 'More Efficient And Effective'

The video conferencing landscape continues to intensify, but Zoom Video Communications Inc (NASDAQ: ZM) thinks it has an advantage in its ease of use and reliability, CFO Kelly Steckelberg said on CNBC's "Squawk Box."

What Happened: Zoom has grown its daily user base from 10 million daily participants in December to 300 million in April due to its core advantages, Steckelberg said. The platform's ease-of-use is consistent from 6-year-old students and all the way up to 80-year olds staying in contact with others, she said. 

Zoom's ability to integrate itself into people's lives offers an ability to cope with the reality that it will take a long time before the world can return to pre-COVID comfort levels, the exec said.

For some, it will never return to normal, as there will be many people who don't want to get back on a plane for a conference, she said. 

Why It's Important: Many Zoom customers are saying virtual and online conferences are "more efficient and effective than they were in person," Steckelberg said. 

"I think we are going to move to a new world where we have a combined approach and people have just seen how effective video communications can be as part of their communications strategies going forward."

What's Next: Zoom continues to look for ways to make its product better moving forward, Steckelberg said. At least 20% of all new upgrades are the result of customer feedback.

Personally, the executive said she wants to see technology progress to let people "virtually" shake hands or better enjoy virtual drinks with friends.

Zoom shares were down 0.16% at $207.26 at the time of publication. 

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Photo courtesy of Zoom. 

 

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