8x8: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
8x8, Inc. (NASDAQ:EGHT) reported Q3 earnings with an EPS of $0.12, surpassing estimates by 20%. However, revenue declined by $3.39 million year-over-year. In the previous quarter, a beat on EPS estimates led to a significant share price increase the following day. The company's past earnings performance shows fluctuating EPS and revenues when compared to estimates.
January 31, 2024 | 9:15 pm
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8x8 reported a higher than expected Q3 EPS of $0.12, beating estimates by 20%, but experienced a revenue decline from the same period last year.
The positive earnings surprise could lead to a short-term positive impact on 8x8's stock price, as historical data shows a significant increase in share price following an EPS beat last quarter. However, the decline in revenue may temper investor enthusiasm, leading to a mixed reaction in the short term.
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