CAMPBELL, Calif. - 8x8, Inc. (NASDAQ:EGHT) saw its shares jump 2% in after-hours trading on Monday after the cloud communications provider reported better-than-expected second quarter results and issued upbeat guidance.
The company posted adjusted earnings per share of $0.09 for the quarter ended September 30, beating analyst estimates of $0.08. Revenue came in at $181 million, surpassing the consensus forecast of $178.38 million.
8x8's service revenue, which makes up the bulk of its total revenue, was $175.1 million in Q2, down slightly from $177.8 million in the same quarter last year. However, the company highlighted that sales of new products increased more than 60% YoY, led by AI-based solutions.
"We are pleased to report a solid quarter, with results that reflect the early signs of success of our investments in innovation and our transformation strategy," said Samuel Wilson, Chief Executive Officer at 8x8.
Looking ahead, 8x8 provided Q3 revenue guidance of $177-182 million, compared to analyst expectations of $181 million. For the full fiscal year 2025, the company forecasts revenue between $714-727 million, versus the consensus estimate of $720 million.
The company also reported its 15th consecutive quarter of positive cash flow from operations, underscoring its improving financial position. 8x8 reduced its total debt by over $173 million, or 32%, over the past two years.
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