When it comes to its growth rate, video conference company Zoom has lived up to its name.

Use of the firm’s software jumped 30-fold in April, as the coronavirus pandemic forced millions to work, learn and socialise remotely.

At its peak, the firm counted more than 300 million daily participants in virtual meetings, while paying customers have more than tripled.

Its newfound popularity has boosted the firm’s finances, despite rising costs.

On Tuesday, Zoom said it expects sales as high as $1.8bn (£1.4bn) this year – roughly double what it forecast in March.

“They were on a very strong trajectory before… and happened to be in the right place at the right time as the whole world decided we needed to communicate well on video,” says Ryan Koontz, managing director at Rosenblatt Securities.

“Any damage to the brand from the security issue is probably more than outweighed by the fact that their product has become a household name.”