Why Vonage Holdings Corp. Shares Rose 26% in August
Shares of Vonage Holdings (NYSE: VG) gained 25.6% in August 2017, according to data from S&P Global Market Intelligence. The inveterate operator of digital voice communications services delivered a fantastic second-quarter report in early August, followed by positive analyst notes. Share prices immediately surged 25% higher on that one-two punch.
In the second quarter, Vonage's sales rose 7.7% year over year to $252 million. Adjusted earnings increased by 40% to $0.07 per share. Both figures exceeded Wall Street's consensus targets, driven by 23% organic growth in the segment for business-class communications services.
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Source: Fool.com
