Vonage: 3Q Earnings Snapshot
HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Wednesday reported a third-quarter loss of $21.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Holmdel, New Jersey-based company said it had a loss of 9 cents. Losses, adjusted for one-time gains and costs, came to 2 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The provider of phone services through cloud-connected devices posted revenue of $302.5 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $303.3 million.
Vonage shares have risen 15% since the beginning of the year. The stock has declined 10% in the last 12 months.