Vonage’s First Quarter Highlighted by Innovation on Vonage Business Cloud Platform and Strong Business Cloud Growth
Vonage Business Revenues of $137 Million, a 22% increase
Revenues from Nexmo, the Vonage API Platform, Increased 60% GAAP and 42% Organic
Consolidated Revenues of $254 Million, a 4% increase
Income from Operations of $18 Million
Adjusted OIBDA of $42 Million
Holmdel, NJ, May 8, 2018 - Vonage Holdings Corp. (NYSE: VG), a business cloud communications leader, today announced results for the quarter ended March 31, 2018.
“We are proud of our strong first quarter financial results and the progress we are making transforming Vonage into a cloud communications leader,” said Vonage CEO Alan Masarek. “We believe that communications is key to driving business transformation. Our unique platform strategy of combining unified communications and embedded communications is delivering better business outcomes to our customers by linking employee and customer communications seamlessly into company workflows.”
For the first quarter of 2018, Vonage reported revenues of $254 million, a 4% increase from the year ago quarter. Income from Operations was $18 million, up from $5 million in the prior year. Adjusted Operating Income Before Depreciation and Amortization (“Adjusted OIBDA”)1 was $42 million, up from $37 million in the prior year. GAAP net income was $25 million or $0.11 per share, up from $6 million or $0.03 per share in the year ago quarter. Adjusted net income2 was $31 million or $0.13 per share, up from $15 million or $0.07 per share in the year ago quarter.
The following information was filed by Vonage Holdings Corp (VG) on Tuesday, May 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: VG CIK: 1272830 Form Type:10-Q Quarterly Report Accession Number: 0001272830-18-000032 Submitted to the SEC: Tue May 08 2018 4:18:45 PM EST Accepted by the SEC: Tue May 08 2018 Period: Saturday, March 31, 2018 Industry: Telephone Communications No Radiotelephone