Vonage misses Street 4Q forecasts

HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Tuesday reported fourth-quarter profit of $1,000.

The Holmdel, New Jersey-based company said it had profit of less than 1 cent on a per-share basis. Earnings, adjusted for one-time gains and costs, were 3 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The provider of phone services through cloud-connected devices posted revenue of $246.8 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $247.5 million.

For the year, the company reported profit of $17.9 million, or 8 cents per share. Revenue was reported as $955.6 million.

Vonage expects full-year revenue in the range of $970 million to $985 million.

Vonage shares have risen slightly since the beginning of the year. The stock has risen 45 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VG at https://www.zacks.com/ap/VG


Keywords: Vonage Holdings, Earnings Report