Plenty of communications companies experience spikes in growth and losses in revenue on a regular basis during the financial year - after all, that's what business is all about. However, in 2016, 8x8 - a provider of internet-based communication and voice services, saw some serious growth, with a story that's worth reporting.
8x8 (NASDAQ: EGHT) saw their shares increase by 26.6% during 2016, according to an analysis revealed by S&P Global Market Intelligence - leading to an incredible financial record for the year. 8x8 only beat Wall Street's estimates regarding sales and earnings in each one of their quarterly reports, but they also showed strong evidence of organic growth with larger customers during the year. At present, large-scale companies currently account for 53% of the company's total sales throughout the second quarter, and those huge clients are also beginning to demonstrate significant loyalty to the 8x8 brand - a positive sign for the future.
What You Should Know about 8x8
8x8 pride themselves on being more than just another VoIP company, and that's part of the reason why numerous large-spending clients have been tempted to renew their contracts with the brand. According to the description of the company on their website, 8x8 are all about enhancing collaboration with the latest innovations and technology. Their services come from a recognition that customers rely on fast and reliable cloud communications to allow for the agility and convenience they need in a competitive business environment.
The enterprise-ready solutions provided by 8x8 are designed to provide exceptional global connectivity and mobility for organisations of all shapes and sizes, and they're intended to empower people into working at their best, no matter where they are. With 8x8, more enterprises are beginning to discover the benefits of being able to collaborate seamlessly across a range of office locations, allowing them to build stronger relationships with partners, co-workers, and customers alike.
What's Next for 8x8?
As the company continues to grow, it makes sense that we should look forward to a bright future from 8x8. Today, they're already recognised as an impressive VoIP provider on a global scale, with data centres opening throughout Brazil, Singapore, and Amsterdam.
As they progress, 8x8 will be placing their focus on developing a unique blend of digital video and voice communication products for their portfolio - and their efforts are already gaining traction around the world, establishing a foundation for international development. On average, the sales per corporate customers for the brand have been boosted by around 14% year over year.
Though every investor might not consider 8x8 to be the perfect opportunity for their portfolio, given its still-growing bottom line, many are discovering that there's plenty to love about this developing communication platforms. It may be worth watching this space.
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