8x8 Q3 Adj EPS $0.12 Beats $0.10 Estimate, Sales $181.01M Miss $183.49M Estimate
Portfolio Pulse from totan@benzinga.com
8x8, Inc. (NASDAQ:EGHT) reported Q3 adjusted earnings per share (EPS) of $0.12, surpassing the consensus estimate of $0.10 by 20%. This represents a 71.43% increase from the $0.07 EPS reported in the same quarter last year. However, the company's quarterly sales of $181.01 million fell short of the consensus estimate of $183.49 million by 1.35%, marking a 1.84% decline from the $184.40 million in sales reported in the same period last year.
January 31, 2024 | 9:10 pm
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8x8, Inc. reported higher-than-expected Q3 EPS at $0.12, a significant increase from the previous year, but missed revenue estimates with a slight year-over-year decline.
The positive earnings beat may provide a short-term boost to investor sentiment, reflecting improved profitability. However, the revenue miss and year-over-year decline could temper optimism, suggesting potential challenges in sales growth. The mixed results lead to a neutral score, as the market may weigh the positives against the negatives.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100