Vonage Announces Strong First Quarter 2016 Results and Agreement to Acquire Nexmo, Inc.; Acquisition Accelerates Company's Growth Strategy and Elevates Leadership Position in Cloud Communications

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Go back to Vonage Announces Strong First Quarter 2016 Results and Agreement to Acquire Nexmo, Inc.; Acquisition Accelerates Company's Growth Strategy and Elevates Leadership Position in Cloud Communications

Vonage (VG) Tops Q1 EPS by 5c; Enters Agreement to Acquire Nexmo in ~$300M Deal

May 5, 2016 8:27 AM EDT

Vonage (NYSE: VG) reported Q1 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $227 million versus the consensus estimate of $227.04 million.

Guidance:

Vonage is adjusting its full year 2016 revenue guidance to reflect the acquisition of Nexmo and the Company's current visibility on the business. Vonage now expects consolidated 2016 GAAP revenue of $950 million to $960 million. The Company also now expects 2016 Vonage Business GAAP revenues, which will include Nexmo's results, to be in the $365 to $370 million range, reflecting a year-over-year growth rate in the high-60% range.... More