8x8 (EGHT -12.3%) has plunged in spite of posting an FQ3 report that met Street estimates. A...

|By:, SA News Editor

8x8 (EGHT -12.3%) has plunged in spite of posting an FQ3 report that met Street estimates. A slow-but-steady rally over the last 6 months served to heighten expectations. Also, revenue churn rose to 2.6% from a record low of 1% in FQ2, something the VoIP/videoconferencing service firm blamed on terminated or reduced services for 6 customers. Average revenue/customer and subscribed services/customer each rose as 8x8 focuses on scoring larger deals. (transcript)