8x8 reports earnings, grows business customer rev 21%

Hosted VoIP provider, 8x8 announced financial operating results for its fiscal fourth quarter and year ended March 31, 2010 and it looks like the business hosted VoIP market is doing quite well.

The company noted that net income for 2010 was $3.9 million compared with a net loss in 2009. Total revenue for 2010 was $63.4 million compared with $64.7 million for fiscal 2009, but revenue from business customers grew 21 percent year over year from $40.2 million in 2009 to $48.7 million in 2010.

In Q4 of fiscal 2010, 8x8 added 29,985 new business lines and services, up 14 percent from the last quarter. That's also up 35 percent from the same period last year. 8x8 also added 2,875 gross new business customers during Q4 compared to the 2,785 customers it added last quarter.

For more:
- read the release

Related articles:
8x8's business revenues grew 19% year over year
IT EXPO: 8x8 launches Virtual Office Online across offerings
8x8 adds Virtual Office Mobile to iPhone users' arsenal