Vonage reports $14 million in income, loses 19,000 subscribers

Vonage may have raked in $216 million in revenue, netting itself $14 million in profit, but things still seem to be heading in the wrong direction for the company. We're not even talking about the sharp decrease in net income -- the $350 million made in the last quarter was thanks in large part to a one-time tax benefit. Revenue remained flat sequentially at $216 million, but was down slightly from the same time last year. What's more, churn had increased from Q4 and, despite signing up 165,000 new accounts, the VoIP carrier managed lose 19,000 subscribers -- and that's after dropping 14,000 last quarter. For more info check out the PR after the break.

Continue reading Vonage reports $14 million in income, loses 19,000 subscribers

Vonage reports $14 million in income, loses 19,000 subscribers originally appeared on Engadget on Wed, 02 May 2012 22:34:00 EDT. Please see our terms for use of feeds.