-=Vonage (VG) reported earnings on Tue 6 Aug 2019 (b/o)

Vonage beats by $0.04, beats on revs; guides Q3 revs above consensus; reaffirms FY19 guidance; acquires voice AI firm Over.ai 

Reports Q2 (Jun) earnings of $0.08 per share, excluding non-recurring items, $0.04 better thanthe S&P Capital IQ Consensus of $0.04; revenues rose 14.6% year/year to $298 mln vs the $291.52 mln S&P Capital IQ Consensus. Vonage Business Revenues were $200 million, representing 67% of consolidated revenues and 35% GAAP growth. Business Service Revenues were $180 million, a 41% GAAP increase.

Co issues upside guidancefor Q3, sees Q3 revs of $302-305 mln vs. $298.56 mln S&P Capital IQ Consensus. Vonage Business Revenues in the range of $206 million to $208 million. Consumer Revenues in the range of $96 million to $97 million. Consolidated Adjusted OIBDA in the range of $44 million to $46 million.

Coreaffirms guidancefor FY19, sees FY19 revs of $1.17-1.195 bln vs. $1.18 bln S&P Capital IQ Consensus. Consolidated Adjusted OIBDA in the range of $160 million to $165 million.

Vonage has entered into an agreement to acquire certain assets of Over.ai, a Tel Aviv-based Voice Artificial Intelligence provider for enterprise communications. Vonage is acquiring Over.ai's technical team and intellectual property from i.am+, an AI technology platform co-founded and co-owned by musician will.i.am.