8x8, Inc. Reports Fourth Quarter and Fiscal 2019 Financial Results
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May 15, 2019 7:38 AM EDT
Needham & Company analyst Richard Valera raised the price target on 8x8 (NYSE: EGHT) to $25.00 (from $22.00) while maintaining a Buy rating following the company's 4Q earnings report. Revenue of $93.8MM exceeded consensus of $93.0MM while NG EPS of $(0.09) missed the $(0.06) consensus.
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May 14, 2019 4:12 PM EDT
8x8, Inc. (NYSE: EGHT) reported Q4 EPS of ($0.09), $0.02 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $93.8 million versus the consensus estimate of $93 million.
Total revenue increased 18% year-over-year to $93.8 million. Adjusting for constant currency and excluding legacy DXI revenue, total revenue increased 20% year-over-year.Service revenue increased 18% year-over-year to $89.1 million. Adjusted service revenue increased 22% year-over-year.Service revenue from mid-market and enterprise customers billing greater than $1,000 in monthly recurring revenue (MRR), adjusting for constant currency and excluding legacy DXI...
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