Quarterly earnings results are a good time to check in on a company’s progress, especially compared to other peers in the same sector. Today we are looking at 8x8 (NYSE:EGHT), and the best and worst performers in the video conferencing group.

Work is becoming more distributed, both across geographies and devices. In order for businesses to keep functioning efficiently, they need to be able to communicate as well as they did when the teams were co-located, which drives the demand for integrated communication platforms.

The 4 video conferencing stocks we track reported a weak Q2; on average, revenues beat analyst consensus estimates by 1.11%, while on average next quarter revenue guidance was 1.46% under consensus. Technology stocks have been hit hard by fears of higher interest rates as investors search for near-term cash flows and video conferencing stocks have not been spared, with share prices down 20.2% since the previous earnings results, on average.

Weakest Q2: 8x8 (NYSE:EGHT)

Founded in 1987, 8x8 (NYSE:EGHT) provides software for organizations to efficiently communicate and collaborate with their customers, employees, and partners.

8x8 reported revenues of $183.3 million, down 2.31% year on year, missing analyst expectations by 2.04%. It was a weak quarter for the company, with revenue guidance for the next quarter and full-year missing analysts' expectations.

8x8 delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full year guidance update of the whole group. The stock is down 40.1% since the results and currently trades at $2.52.

Read our full report on 8x8 here, it's free.

Best Q2: RingCentral (NYSE:RNG)

Founded in 1999 during the dot-com era, RingCentral (NYSE:RNG) provides software as a service that unifies phone, text, fax, video calls and chat in one platform.

RingCentral reported revenues of $539.3 million, up 10.8% year on year, in line with analyst expectations. It was a decent quarter for the company, with revenue and EPS coming in ahead of Wall Street's estimates. 

The stock is down 23.9% since the results and currently trades at $29.63.

Is now the time to buy RingCentral? Access our full analysis of the earnings results here, it's free.

Five9 (NASDAQ:FIVN)

Started in 2001, Five9 (NASDAQ: FIVN) offers software as a service that makes it easier for companies to set up and efficiently run call centers, and offer more tailored customer support.

Five9 reported revenues of $222.9 million, up 17.7% year on year, beating analyst expectations by 3.74%. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter, although non-GAAP EPS guidance was in line.

Five9 delivered the strongest analyst estimates beat and fastest revenue growth in the group. The stock is down 21.3% since the results and currently trades at $64.3.

Read our full analysis of Five9's results here.

Zoom (NASDAQ:ZM)

Started by Eric Yuan who once ran engineering for Cisco’s video conferencing business, Zoom (NASDAQ:ZM) offers an easy to use, cloud-based platform for video conferencing, audio conferencing and screen sharing.

Zoom reported revenues of $1.14 billion, up 3.57% year on year, beating analyst expectations by 2.18%. It was a mixed quarter for the company, with revenue exceeding analysts' estimates, driven by more enterprise-grade contract wins than expected. Furthermore, Zoom raised its adjusted operating profit and EPS guidance for the full year. On the other hand, its revenue guidance for the next quarter missed analysts' expectations, and its net revenue retention decreased.

Zoom scored the highest full year guidance raise among the peers. The company added 92 enterprise customers paying more than $100,000 annually to a total of 3,672. The stock is up 4.36% since the results and currently trades at $70.2.

Read our full, actionable report on Zoom here, it's free.

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The author has no position in any of the stocks mentioned