8x8 Cloud Computing Services Generate 98% Customer Loyalty

By samdizzy

8x8

Meanwhile, 8×8’s customer base apparently is growing. 8×8’s revenues for Q3 ended December 31 grew 31 percent to $23.3 million. Even more impressive, net income jumped 73 percent to $2.6 million. In the cloud market, revenues from hosted communication services and cloud data revenues grew 42 percent and now represent 93 percent of total revenue.

So where is 8×8 placing its cloud bets? 8×8 is perhaps best known in the VoIP market. But the company has ramped up its cloud computing relationships with Cisco Systems (in the small business market) and Microsoft (for Windows cloud servers). Also, 8×8 has managed to reduce its customer acquisition cost to $92 per service, compared to $99 in the corresponding quarter last year.

Again, those are impressive figures. The net result: 8×8 announced its quarter results yesterday, and the figures impressed Wall Street. Indeed, 8×8’s stock jumped nearly 25 percent today.