Vonage announces new $100M share repurchase program Vonage's Board of Directors authorized a new $100M share repurchase program to be concluded by the end of 2014. This new $100M program replaces the company's prior $50M share repurchase program. As of February 12, Vonage had repurchased a total of 14M shares of its common stock for $33M under the prior repurchase program, including repurchases of 8M shares of its common stock for $19M during Q4.
Vonage reports Q2 Business revenue $49M Reports Q2 Business revenue church was 1.3%. Reports Q2 Business ending seats were 403K, reflecting strong organic growth and the addition of Telesphere and SimpleSignal.
Vonage initiated with an Outperform at William Blair William Blair before the market opened started shares of Vonage with an Outperform rating. The firm sees 40% upside potential given new management's "successful penetration" into the unified-communications-as-a-service market.