How Vonage Holdings, Inc. Stock Rose 25% in November
Shares of Vonage Holdings (NYSE: VG) gained 25.2% in November 2017, according to data from S&P Global Market Intelligence. The bulk of that rocket fuel came from a solid earnings report.
The provider of digital communications services reported strong third-quarter results on Nov. 7. Earnings came in at $0.07 per share, down from $0.09 per share in the year-ago quarter and in line with analyst projections. On the top line, revenues grew 2% year over year to $253 million, while the Street was looking for a flat sales performance. Revenue guidance for the fourth quarter also landed slightly ahead of analyst estimates. The stock closed 8% higher the next day, triggering a steady climb throughout the rest of November.
Image source: Getty Images.
Source: Fool.com
