Good news for all the Zoom users as the famous video-conferencing application will be lifting the limit for free accounts worldwide.
Zoom has a 40-minute meeting limit on conference calls (with three or more members) made from free accounts but for the upcoming holidays and new year, the video-conferencing application has decided to gift something to its users.
Zoom users will be able to make unlimitedly long conference calls on the following dates:
December 17th to December 19th
December 23rd to December 26th
December 30th to January 2nd
Earlier, Zoom Video Communications declared that its gross profit margins are lessening due to the increase in the number of free users.
According to the details, shares of the company, which have risen about sevenfold this year fueled by the dramatic rise in demand in video conferencing for work, school, or socializing due to the coronavirus pandemic, fell 5% after the bell, in spite of positive fourth-quarter forecasts.
However, zoom scores some of its own data centers, but it also relies on cloud computing services from outside retailers such as Amazon and Oracle Corp, meaning it must tolerate costs for free users.
Those bills, driven in part by a jump in free users in the 3rd quarter as millions of students and teachers started new school semesters, pushed down Zoom’s gross profit margins to 66.7%, below analysts’ estimates of 72.1%, and its pre-pandemic average of around 80%.