AP NEWS

8x8: Fiscal 2Q Earnings Snapshot

October 30, 2019 GMT

SAN JOSE, Calif. (AP) _ 8x8 Inc. (EGHT) on Wednesday reported a loss of $40.9 million in its fiscal second quarter.

The San Jose, California-based company said it had a loss of 42 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 16 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The telecommunications services company posted revenue of $109.5 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $107 million.

For the current quarter ending in January, 8x8 said it expects revenue in the range of $113.5 million to $114.5 million.

The company expects full-year revenue in the range of $438 million to $440 million.

8x8 shares have climbed 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.92, an increase of 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EGHT at https://www.zacks.com/ap/EGHT