Why Vonage Holdings Shares Fell 15.4% on Thursday
Shares of Vonage Holdings (NASDAQ: VG) dropped as much as 15.4% in trading on Thursday after the cloud communications provider released fourth-quarter 2020 financial results. Shares closed the day down 12.3%.
Revenue rose 4.4% in the quarter to $323.3 million, but the net loss grew from $2.4 million a year ago to $14 million, or $0.06 per share. On an adjusted basis, which pulls out one-time items, earnings were $0.02 per share, which fell short of the $0.05 that analysts expected.
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Source Fool.com
