Vonage Reports First Quarter 2021 Financial Results
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Vonage (VG) Tops Q1 EPS by 1c, Revenues Beat; Offers 2Q & FY21 Revenues Guidance Above Consensus
May 6, 2021 7:19 AM EDTVonage (NASDAQ: VG) reported Q1 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $333 million versus the consensus estimate of $317.12 million.
We had a strong first quarter, demonstrating improving execution across our business, said Rory Read, Chief Executive Officer. VCP service revenues increased 23% year over year. API revenues grew 47%, highlighted by high-value APIs, which grew 112%, with continued strength in healthcare, collaboration and education. Video was our largest and fastest-growing product, with usage of our Voice, Verify and Messages APIs accelerating.
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