With the COVID-19 pandemic resulting in business shutdowns all over the world, virtual calling and messaging tools are experiencing a dramatic surge in demand. One such platform is Microsoft's (NASDAQ: MSFT) Skype, which has seen a tremendous increase in usage.
Skype's average daily users have increased to 40 million, a rise of 70% month over month, according to the company's blog post. Skype to Skype calling minutes have increased by 220% as well. Microsoft even introduced a feature for this platform called Meet Now that enables users to "easily create video meetings in as little as three clicks for free, no signups or downloads required."
Image source: GETTY IMAGES.
Microsoft acquired Skype back in 2011 for $8.5 billion and has rarely announced the daily active user metrics for this business segment. As coronavirus is boosting the number of people working from home work, collaboration players are bound to experience a drastic increase in user growth and engagement.
Earlier this month, the technology giant also announced that Microsoft Teams had reached over 44 million daily active users.
10 Stocks We Like Better than Microsoft
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Microsoft wasn't one of them! That's right -- they think these 10 stocks are even better buys.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Microsoft, Slack Technologies, and Zoom Video Communications and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, and short May 2020 $120 calls on Zoom Video Communications. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
