Needham & Company Raises Price Target on 8x8, Inc. (EGHT) to $17 Following 1Q Report

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Go back to Needham & Company Raises Price Target on 8x8, Inc. (EGHT) to $17 Following 1Q Report

8x8, Inc. Reports First Quarter Fiscal 2017 Financial Results

July 21, 2016 4:05 PM EDT

Total Revenue Increases 25% YoY to a Record $60.0 Million

Service Revenue from Midmarket and Enterprise Customers Increases 44% YoY

GAAP Net Loss of ($0.5 Million); Non-GAAP Net Income of $5.4 Million

Cash Flow from Operations of $6.5 Million

SAN JOSE, Calif.--(BUSINESS WIRE)-- 8x8, Inc. (NASDAQ: EGHT), the leading provider of Enterprise Communications as a Service (ECaaS), today reported record financial results for the first quarter of fiscal 2017 ended June 30, 2016.

First Quarter Fiscal 2017 Financial Highlights:

Total revenue of $60.0 million, a 25%... More