Why 8x8 Stock Skyrocketed 27.3% on Thursday

Why 8x8 Stock Skyrocketed 27.3% on Thursday

The cloud-based business communications expert reported stellar third-quarter earnings on Wednesday evening, and the positive news fell on a wildly bullish day for the broader stock market. Adjusted earnings more than tripled from $0.02 to $0.07 per diluted share. According to interim CEO Sam Wilson, the company saw its best customer-retention metrics in several years, alongside expanding profit margins and robust cash flows.