Why 8x8 Stock Is Soaring Today

Why 8x8 Stock Is Soaring Today

Shares of 8x8 (NYSE: EGHT) are soaring today, up by 12% as of 12:40 p.m. EDT, after the company reported fiscal second-quarter earnings. The results topped consensus estimates, although guidance came in below expectations. The communications technology company reported annual recurring revenue (ARR) of $467.1 million and finished the quarter with 670 customers that generate ARR of $100,000 or more.