Vonage: 2Q Earnings Snapshot
HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Tuesday reported second-quarter profit of $4.5 million.
On a per-share basis, the Holmdel, New Jersey-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The provider of phone services through cloud-connected devices posted revenue of $297.6 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $291.7 million.
Vonage shares have climbed 34% since the beginning of the year. The stock has dropped 15% in the last 12 months.