HOLMDEL, N.J. (AP) _ Vonage Holdings Corp. (VG) on Thursday reported a loss of $3.8 million in its first quarter.
The Holmdel, New Jersey-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The provider of phone services through cloud-connected devices posted revenue of $297.5 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $281.2 million.
For the current quarter ending in July, Vonage said it expects revenue in the range of $295 million to $298 million.
The company expects full-year revenue in the range of $1.18 billion to $1.21 billion.
Vonage shares have climbed 14% since the beginning of the year. The stock has fallen 19% in the last 12 months.