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.


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