8x8 Inc reports results for the quarter ended in June - Earnings Summary

8x8

08/08/2024 01:56

* 8x8 Inc  EGHT.OQ  reported quarterly adjusted earnings of
8
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 13
cents.  The mean expectation of twelve analysts for the quarter
was for earnings of 9 cents per share. Wall Street expected
results to range from 8 cents to 10 cents per share.
    * Revenue fell 2.8% to $178.15 million from a year ago;
analysts
expected $178.88 million. 
    * 8x8 Inc's reported EPS for the quarter was a loss of 8
cents​.
    * The company reported a quarterly loss of $10.29 million.
    * 8x8 Inc shares had risen by 14.0% this quarter and
lost 33.1% so
far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 6
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the integrated
telecommunications services peer group is also "hold"

Wall Street's median 12-month price target for 8x8 Inc is $3.00 
This summary was machine generated from LSEG data August 8 at
12:56 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.09           0.08           Missed
 Mar. 31 2024      0.06           0.08           Beat
 Dec. 31 2023      0.10           0.12           Beat
 Sep. 30 2023      0.09           0.14           Beat