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For the fiscal third quarter, revenues are expected between $180 million and $186 million.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $183.42 million, suggesting a 0.53% year-over-year decline.
The consensus mark for earnings is pegged at 10 cents per share, unchanged in the past 30 days. The projection suggests a 42.86% rise from the figure reported in the year-ago quarter.
EGHT earnings beat the Zacks Consensus Estimate in three of the trailing four quarters but missed one, delivering an earnings surprise of 54.81% on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
EGHT's third quarter fiscal 2024 results are expected to have benefited from the sequential increase in service revenue, particularly in the CPaaS and CCaaS segments.
The company's initiatives to broaden its product portfolio across the segments mentioned above, to enable the adoption of its innovative solutions by both existing and new customers, is expected to have been a tailwind.
In line with its commitment to expansion, EGHT is implementing initiatives such as the retooling of its CPaaS business. The introduction of advanced products like AI-powered intelligent customer assistants is likely to have aided 8x8’s top-line growth.
For the fiscal third quarter of 2024, EGHT projects service revenue to fall within the range of $173 million to $178 million.
Noteworthy innovations like Conversational IQ for UCaaS and the integration of AI technologies like Whisper for transcription and translation are expected to have made a positive contribution to EGHT’s third-quarter performance.
However, EGHT’s growing challenges in customer retention, stemming down-sell and attrition in the Fuze customer base, are expected to have affected recurring revenues and customer count in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the exact case here.
EGHT has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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8x8 (EGHT) to Report Q3 Earnings: What's in the Offing?
8x8 (EGHT - Free Report) is slated to release its third-quarter fiscal 2024 results on Jan 31.
For the fiscal third quarter, revenues are expected between $180 million and $186 million.
The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $183.42 million, suggesting a 0.53% year-over-year decline.
The consensus mark for earnings is pegged at 10 cents per share, unchanged in the past 30 days. The projection suggests a 42.86% rise from the figure reported in the year-ago quarter.
8x8 Inc Price and EPS Surprise
8x8 Inc price-eps-surprise | 8x8 Inc Quote
EGHT earnings beat the Zacks Consensus Estimate in three of the trailing four quarters but missed one, delivering an earnings surprise of 54.81% on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors Likely to Have Influenced Q3 Performance
EGHT's third quarter fiscal 2024 results are expected to have benefited from the sequential increase in service revenue, particularly in the CPaaS and CCaaS segments.
The company's initiatives to broaden its product portfolio across the segments mentioned above, to enable the adoption of its innovative solutions by both existing and new customers, is expected to have been a tailwind.
In line with its commitment to expansion, EGHT is implementing initiatives such as the retooling of its CPaaS business. The introduction of advanced products like AI-powered intelligent customer assistants is likely to have aided 8x8’s top-line growth.
For the fiscal third quarter of 2024, EGHT projects service revenue to fall within the range of $173 million to $178 million.
Noteworthy innovations like Conversational IQ for UCaaS and the integration of AI technologies like Whisper for transcription and translation are expected to have made a positive contribution to EGHT’s third-quarter performance.
However, EGHT’s growing challenges in customer retention, stemming down-sell and attrition in the Fuze customer base, are expected to have affected recurring revenues and customer count in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the exact case here.
EGHT has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Meta Platform (META - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meta Platform is set to announce fourth-quarter 2023 results on Feb 1. META’s shares are up 23.7% in the past six months.
Twilio (TWLO - Free Report) has an Earnings ESP of +31.37% and a Zacks Rank #2.
Twilo is set to announce fourth-quarter 2023 results on Feb 14. TWLO’s shares have gained 8.9% in the past six months.
Bill Holdings (BILL - Free Report) has an Earnings ESP of +6.17% and a Zacks Rank #3.
Bill Holdings is set to announce second-quarter fiscal 2024 results on Feb 8. BILL’s shares have declined 40.7% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.