Market Overview

Analysts See 26% Q3 Revenue Growth For 8x8


8x8, Inc. (NASDAQ: EGHT) is expected to post revenue growth of 26 percent when it issues third-quarter results after the bell Thursday.

The company changed hands recently at $8.83, up 1.7 percent, while in the past three months, the company has gained more than 31 percent.

Wall Street expects the company will post third-quarter adjusted earnings of $0.04 a share, on revenue of $41.41 million.

Adjusted earnings in the year-earlier period were $0.03 a share, on revenue of $32.7 million.

In October, 8x8 beat profit expectations by nearly 67 percent and Chief Executive Vikram Verma raised the company's outlook.

Verma said at the time that revenue in the second half of the year would grow 26 percent, with adjusted income coming in at between 8 percent and 10 percent of revenue.

Previously the company had expected revenue growth of "at least 25 percent" and adjusted income as a percentage of revenue in the high-single-digit range.

Posted-In: Intraday Update


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