NEW YORK (TheStreet) -- Vonage Holdings (VG) shares are up 0.85% to $3.46 on Wednesday after the broadband telecommunications company reported its third quarter earnings results before the opening bell today.
The company reported a quarter to quarter sequential $1 million increase in EBITDA to $30 million, a $7 million increase over its third quarter EBITDA last year.
Revenue for the quarter rose to $215 million, better than the $204 million the company reported last year and just shy of analysts' $216 million expectations.
Earnings for the period were $4.6 million, or 6 cents per diluted share on a pre-tax non-GAAP adjusted basis. Analysts were expecting earnings of 5 cents per diluted share for the quarter.
TheStreet Ratings team rates VONAGE HOLDINGS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate VONAGE HOLDINGS CORP (VG) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."