Vonage earnings for the fourth quarter of 2018 have VG stock falling on Thursday.
Vonage (NYSE:VG) starts off its earnings report for the fourth quarter of the year with losses per share of 3 cents. This is up from the company’s losses per share of 24 cents from the same time last year. However, it was still a blow to VG stock by coming in below Wall Street’s earnings per share estimate of 7 cents for the quarter.
Net loss reported by Vonage during the fourth quarter of 2018 comes in at $6.93 million. This is better than the company’s net loss of $55.27 million reported in the fourth quarter of 2017.
Operating income reported by Vonage for the fourth quarter of the year was $6.02 million. The cloud communications company reported operating income of $22.99 million during the same period of the year prior.
The Vonage earnings report for the fourth quarter of 2018 also included revenue of $273.80 million. This is an increase over the company’s revenue of $254.02 million reported in the fourth quarter of the previous year. Unfortunately for VG stock, this still comes in below analysts’ revenue estimate of $274.71 million for the period.
The most recent Vonage earnings report also includes its outlook for the full year of 2019. This outlook has revenue for the year ranging from $1.170 billion to $1.195 billion. Wall Street is looking for revenue of $1.17 billion for the full year of 2019.
VG stock was down 7% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
