Stock Alert: Upbeat Results Send Ooma Higher

(RTTNews) - Shares of cloud-based communications platform provider, Ooma, Inc. (NYSE: OOMA) increased $1.50 or 10.90% on Friday, after announcing better-than-estimated fourth-quarter results.

Net loss in the fourth quarter was $2.3 million, or $0.11 per share, compared with net loss of $3.5 million, or $0.17 per share, in the same quarter a year ago. Excluding items, earnings were at $0.04. On average, 5 analysts polled by Thomson Reuters were estimating breakeven earnings for the period.

Revenue for the quarter was $40.6 million, up 17% year-over-year, driven by 61% growth in Ooma Business subscription and services revenue.

For the first quarter, Ooma expects revenue to be in the range of $40.0 million to $40.5 million and adjusted EPS in the range of $0.02 to $0.04.The consensus estimate for EPS is at $0.03 on revenues of $40.14 million.

For the full-year, the company sees revenue in the range of $167.0 million to $170.0 million and adjusted earnings per share to be $0.09 to $0.17. Analysts see earnings of $0.12 per share on revenue of $168.75 million for the period.

OOMA closed Friday's trading at $15.26. The stock has traded in the range of $9.85- $16.2 in the past one year.