Cloud-based 8X8 raises revenues by 29 per cent

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Boss Verma talks of record turnover but annual profit fell $800,000 million to $1.3 million

Cloud-based unified communications provider 8×8 Solutions grew its quarterly revenues by 29 per cent year- on-year for the three months ending September 30.

Total revenues at the firm, which also provides contact centre and collaboration software, were $39.6 million (£24.5 million) over the quarter.

Underlying net profits also increased, by $200,000 (£125,000) to $4.3 million (£2.7 million) compared to the same period last year, although net profit as a whole dropped to $1.3 million (£800,000) from

Of its total revenues, $36.1 $2.1 million (£1.3 million) a million (£22.5 million) was year earlier. from recurring revenues, an increase of 30 per cent year-on- year, while average monthly revenue per business customer reached a “record” $299 (£187), up 12 per cent.

Advantages

“Our differentiated cloud communications portfolio and increasing penetration in the mid-market enabled 8×8 to deliver another solid quarter of record revenue and profitable growth,” said 8×8 Solutions chief executive Vik Verma.

“The productivity advantages businesses are deriving from our combined cloud telephony, unified communications and contact centre suite of services are measurable, and our ability to rapidly deploy large distributed enterprises on a global basis is unparalleled in our industry. The investments we have been making in the business are further separating us from our competition.”

The firm says it now expects to grow its revenues by approximately 26 per cent in its current financial year which ends on March 31 2015.

The firm posted revenues of $128.6 million (£80 million) in its previous financial year.

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