8x8, Inc. (EGHT) Misses Q1 EPS by 1c, Offters Outlook

8x8, Inc. (NASDAQ: EGHT) reported Q1 EPS of $0.02, $0.01 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $69.1 million versus the consensus estimate of $68.57 million.

Financial Outlook

For the full fiscal 2018 year, 8x8 reiterates its previous revenue guidance and introduces new non-GAAP pre-tax income guidance.

Revenue:

• Service revenue in the range of $280 million to $285 million, representing an approximately 19% to 21% YoY increase.
• Total revenue in the range of $296 million to $300 million, representing an approximately 17% to 19% YoY increase.

Non-GAAP Pre-tax Income:

• Non-GAAP pre-tax income of approximately $9 million, or 3% of revenue, compared with our previous non-GAAP pre-tax income guidance in the range of $21 million to $26 million or approximately 7% to 9% of revenue. The Company’s estimated non-GAAP effective tax rate is expected to be approximately 36%. The Company’s cash taxes are expected to be less than $1 million.

For earnings history and earnings-related data on 8x8, Inc. (EGHT) click here.

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