8x8: Fiscal 2Q Earnings Snapshot
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.