TMCnet News
8x8 tops Street 2Q forecasts(Associated Press Via Acquire Media NewsEdge) SAN JOSE, Calif. (AP) _ 8x8 Inc. (EGHT) on Wednesday reported fiscal second-quarter earnings of $1.3 million. On a per-share basis, the San Jose, California-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, were 5 cents per share. The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share. The telecommunications services company posted revenue of $39.6 million in the period, also topping Street forecasts. Analysts expected $39.5 million, according to Zacks. 8x8 shares have dropped 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.70, a fall of 41 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. EGHT stock research report from Zacks: http://www.zacks.com/ap/EGHT Keywords:8x8,Earnings Report |