Vonage Holdings Corp. (NYSE:VG) reported its results for the second 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 Second Quarter
Results: Swung to a profit of $21.7 million (9 cents per diluted share) in the quarter. Vonage Holdings Corp. had a net loss of $562,000 or EPS of breaking even in the year earlier quarter.
Revenue: Fell 3.1% to $218.3 million from the year earlier quarter.
Actual vs. Wall St. Expectations: VG beat the mean analyst estimate of 7 cents per share. Analysts were expecting revenue of $220.6 million.
Quoting Management: Marc Lefar, Vonage Chief Executive Officer, said, “We generated record high financial results while improving our core value proposition and laying the foundation for future growth.” “The launches of Extensions and Time to Call enhance our domestic and global service offerings for landline and mobile customers. Beyond this, we’ve expanded the availability of our service through agreements with TracFone, Best Buy, Kmart and Sears. And, as a result of our strong financial performance, we have refinanced our debt for the second time in eight months. These are meaningful steps.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the first quarter, by 3 cents in the fourth quarter of the last fiscal year, and by one cent in the third quarter of the last fiscal year.
Revenue has fallen in the past four quarters. Revenue declined 3.6% to $219.8 million in the first quarter. The figure fell 2.6% in the fourth quarter of the last fiscal year from the year earlier and dropped 3.3% in the third quarter of the last fiscal year from the year-ago quarter.
Competitors to Watch: IDT Corporation (NYSE:IDT), Microsoft (NASDAQ:MSFT), Sprint (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).
(Source: Xignite Financials)