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.

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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

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Keywords: Vonage Holdings, Earnings Report