What happened Shares of 8x8 (NYSE: EGHT) rose 11.1% in October, according to data from S&P Global Market Intelligence. The cloud communications stock popped near the end of the month thanks to better-than-expected earnings results. ^SPX data by YCharts 8x8 published second quarter earnings results on Oct. 28, delivering sales and earnings for the period that came in significantly ahead of the market's expectations. The earnings beat helped the stock close out the month with double-digit gains despite significant sell-offs for the broader market and growth-dependent tech stocks. Image source: Getty Images. So what 8x8 posted a non-GAAP (adjusted) loss of $0.03 per share on sales of $129.1 million in the third quarter. Total revenue climbed 17.9% in the period, and service revenue rose 19.3% year over year to reach $120.9 million. The average analyst target had called for a per-share loss of $0.29 on revenue of $126.28 million. Now what 8x8 stock has continued to make gains early in November's trading. The company's share price has risen roughly 8% in the month so far. ^SPX data by YCharts 8x8 is guiding for third quarter revenue to be between $132 million and $133 million, up roughly 11.5% year over year at the midpoint of the target. The company expects to post an adjusted pre-tax loss of approximately $3 million. For the full year, management is targeting revenue between $519 million and $522 million -- good for growth of roughly 16.5% at the midpoint. The team anticipates a pre-tax loss of roughly $16 million for the year. 8x8 has a market capitalization of roughly $2 billion and is valued at 3.8 times this year's expected sales. 10 stocks we like better than 8x8When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and 8x8 wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source