Vonage meets 3Q profit forecasts

HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Tuesday reported third-quarter profit of $10.6 million.

On a per-share basis, the Holmdel, New Jersey-based company said it had profit of 4 cents. Earnings, adjusted for one-time gains and costs, were 7 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 7 cents per share.

The provider of phone services through cloud-connected devices posted revenue of $253.1 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $249.3 million.

Vonage expects full-year revenue in the range of $1 billion to $1 billion.

Vonage shares have increased 19 percent since the beginning of the year. The stock has climbed 31 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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