8x8, Inc. (EGHT) Reports In-Line Q2 EPS, Offers FY16 Guidance
8x8, Inc. (NASDAQ: EGHT) reported Q2 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $50.9 million versus the consensus estimate of $49.87 million.
8x8, Inc. sees FY2015 revenue of $204-206 million, versus the consensus of $203.9 million.
In the second quarter of fiscal 2016, we saw further evidence of the expanding cloud communications market from one that has been driven primarily by SMB adoption to a broader opportunity that now includes much larger global mid-market and enterprise organizations,” said 8x8 CEO Vik Verma. “8x8 has been planning for this market evolution over the past two years and, with our Global Reach strategy, integrated cloud UC and Contact Center platform and comprehensive analytics, we believe we are uniquely positioned to take advantage of this trend. This quarter, we signed three of the largest deals in the Company’s history and saw a 102% year over year increase in new recurring service revenue booked from mid-market and enterprise customers and by channel sales teams.”
Mr. Verma continued, “Given our strong revenue growth this quarter, we are revising our previously stated guidance of annual revenue for fiscal 2016 in the $202 million to $206 million range, representing a 24% - 27% year over year increase, to annual revenue of $204 million to $206 million, representing a 26% - 27% year over year increase. Our guidance for non-GAAP net income as a percentage of revenue of approximately 6% for the full fiscal year remains unchanged.”
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