Vonage Holdings Corp. (NASDAQ:VG) reported net income above Wall Street’s expectations for the first quarter. The Company is a provider of broadband Voice over Internet Protocol telephone services to residential and small office and home office customers.
Vonage Holdings Corp Earnings Cheat Sheet for the First Quarter
Results: Net income for Vonage Holdings Corp. rose to $21.1 million (9 cents/share) vs. $14 million (6 cents/share) in the same quarter a year earlier. A rise of 51.2% from the year earlier quarter.
Revenue: Fell 3.6% to $219.8 million YoY.
Actual vs. Wall St. Expectations: VG beat the mean analyst estimate of 6 cents/share. Estimates ranged from 5 cents per share to 7 cents per share.
Quoting Management: Marc Lefar, Vonage Chief Executive Officer, said, “Vonage continued to deliver strong financial results as we generated record high EBITDA and net income. We improved average revenue per user, reduced costs and continued to deliver on our strategy to penetrate international calling segments. There are more than one million subscribers, representing 43% of our base, on Vonage World.”
Key Stats: VG’s profit in the latest quarter follows losses in the three previous quarters. The company reported a net loss of $41.7 million in the fourth quarter of the last fiscal year, a loss of $55.4 million in the third quarter of the last fiscal year and a loss of $562,000 in the second of the last fiscal year.
Competitors to Watch: IDT Corporation (NYSE:IDT), Sprint Nextel (NYSE:S), 8×8, Inc. (NASDAQ:EGHT), Verizon Communications Inc. (NYSE:VZ), AT&T Inc. (NYSE:T), CenturyLink, Inc. (NYSE:CTL), Consolidated Communications Hldgs. Inc (NASDAQ:CNSL), Warwick Valley Telephone Co. (NASDAQ:WWVY), Cbeyond, Inc. (NASDAQ:CBEY), and BCE Inc. (NYSE:BCE)
Stock Performance: Shares of VG are trading at $5.21 as of May 4, 2011 at 8:31 AM ET, unchanged from the previous close.