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Why 8x8 Stock Is Soaring Today

TheMotleyFool

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Shares of 8x8 (NYSE: EGHT) are soaring today, up by 12% as of 12:40 p.m. EDT, after the company reported fiscal second-quarter earnings. The results topped consensus estimates, although guidance came in below expectations.

Revenue in the fiscal second quarter totaled $129.1 million, ahead of the $126.3 million in sales that analysts were expecting. That resulted in an adjusted net loss per share of $0.03, which was better than the $0.07 per share in adjusted losses that Wall Street was modeling for. The communications technology company reported annual recurring revenue (ARR) of $467.1 million and finished the quarter with 670 customers that generate ARR of $100,000 or more.

Image source: Getty Images.

Source Fool.com

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