8×8 reported impressive fiscal Q2 results, driven by record demand for its AI-powered customer experience platform. The company achieved $184.1 million in revenue, exceeding analyst estimates by nearly $6 million, and reported a net income of $800,000. This marks 19 consecutive quarters of positive operating cash flow, underscoring 8×8’s strong operational performance. The spike in growth is attributed to the increasing adoption of its cloud-based technology, which utilizes AI to enhance customer interactions. Firm leadership emphasized their integrated AI strategy and diverse product offerings as crucial for success. Wall Street is optimistic, with a median 12-month price target 32% above current levels and shares trading at five times expected forward earnings. As the telecommunications sector increasingly invests in AI, 8×8 stands out as a key player in reshaping customer service worldwide. This trend highlights a pivotal shift in global customer experience management, making 8×8 a stock to watch.
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