Why 8x8, Inc. Stock Plunged Today

newsfeedback@fool.com (Anders Bylund), The Motley Fool
Fri, 07/28/2017 - 8:33am

Shares of cloud-based communications specialist 8x8 (NASDAQ: EGHT) fell as much as 30% on Friday morning, following the company's release of disappointing results for the first quarter of fiscal year 2018. As of 11:27 a.m. EDT, 8x8 shares had recovered to a milder 12% drop.8x8's first-quarter sales rose 15% year over year, landing at $69.1 million and slightly ahead of Wall Street's $68.6 million consensus estimate.

Topics: nasdaq eght edt wall street as 8x8 million year fell shares income

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Why 8x8, Inc. Stock Plunged Today

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