8x8: Fiscal 2Q Earnings Snapshot
8x8: Fiscal 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ 8x8 Inc. (EGHT) on Monday reported a loss of $21.5 million in its fiscal second quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 23 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 4 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The telecommunications services company posted revenue of $85.7 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $84.5 million.
8x8 shares have risen 16 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.35, a rise of 24 percent 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