CAMPBELL, Calif. – 8×8, Inc. (NASDAQ:EGHT) saw its shares jump 2% in after-hours trading on Monday after the cloud communications provider reported better-than-expected second quarter results and issued upbeat guidance.
The company posted adjusted earnings per share of $0.09 for the quarter ended September 30, beating analyst estimates of $0.08. Revenue came in at $181 million, surpassing the consensus forecast of $178.38 million.
8×8’s service revenue, which makes up the bulk of its total revenue, was $175.1 million in Q2, down slightly from $177.8 million in the same quarter last year. However, the company highlighted that sales of new products increased more than 60% YoY, led by AI-based solutions.
“We are pleased to report a solid quarter, with results that reflect the early signs of success of our investments in innovation and our transformation strategy,” said Samuel Wilson, Chief Executive Officer at 8×8.
Looking ahead, 8×8 provided Q3 revenue guidance of $177-182 million, compared to analyst expectations of $181 million. For the full fiscal year 2025, the company forecasts revenue between $714-727 million, versus the consensus estimate of $720 million.
The company also reported its 15th consecutive quarter of positive cash flow from operations, underscoring its improving financial position. 8×8 reduced its total debt by over $173 million, or 32%, over the past two years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
