UPDATE: Vonage (VG) Tops Q2 EPS by 1c, Beats on Revenues; Increases Revenue Guidance
(Update corrects EPS to reflect adjusted figure)
Vonage (NYSE: VG) reported Q2 EPS of $0.07, $0.01 better than the analyst estimate of $0.06. Revenue for the quarter came in at $251.84 million versus the consensus estimate of $242.02 million.
Guidance Update
Vonage is updating its CPaaS revenue expectations to reflect the Company\'s requirement to report a portion of Nexmo revenues on a gross rather than net basis, as well as higher organic growth. The Company now expects 2017 Business revenues, which includes both UCaaS and CPaaS, to increase from prior guidance by $15 million, equating to a range of $498 million to $504 million. Corresponding total revenue guidance is likewise adjusted to between $981 million and $996 million. The Company reaffirmed 2017 Adjusted OIBDA guidance of at least $165 million.
For earnings history and earnings-related data on Vonage (VG) click here.