LogMeIn LOGM reported better-than-expected results for second-quarter 2018.The company reported non-GAAP earnings of $1.32 per share, which came ahead of the Zacks Consensus Estimate of $1.25 and marked a year-over-year improvement of 30.7%.The company’s non-GAAP revenues for the quarter came in at $307.1 million, beating the Zacks Consensus Estimate of $305 million and growing approximately 15% year over year, driven by Jive, Bold360 ai, and LastPass.Quarter DetailCollaboration Cloud business, accounting for 57% of total revenues, grew 5% year over year.Identity and Access Management Cloud business rose 18% from the year-ago quarter, generating 29% of total revenues. Sales of LastPass increased 70% year over year.Service Cloud business increased 1% on a year-over-year basis, representing 14% of revenues.International revenues contributed 23% to total revenues.The company’s gross renewal rate across all products was nearly 75%. A 350 basis points decline in renewal rates from Collaboration business was offset by improved retention rate in Identity and Access Management business.During the quarter, the company’s operating income increased 19.3% year over year to $94.3 million. Operating margin expanded 110 bps to 30.7%.LogMein, Inc. Price, Consensus and EPS Surprise LogMein, Inc. Price, Consensus and EPS Surprise | LogMein, Inc. QuoteBalance Sheet and Other Financial DetailsLogMeIn ended the second quarter with cash and cash equivalents of $198.9 million, compared with $365.2 million in the previous quarter. The decline was due to the acquisition of Jive, for which the company paid $143 million of cash and $200 million from its credit facility.The company generated $103.2 million of cash flow from operational activities.In the quarter, the company repurchased 615k shares worth $68 million and paid $16 million dividends.GuidanceFor the third quarter of 2018, the company expects revenues in the range of $302-$304 million.Adjusted EBITDA is projected to be between $111 million to 113 million. Adjusted EBITDA margin is anticipated to be 37%.The company expects earnings per share to be in the range of $1.33 to $1.35.For fiscal 2018, the company lowered its revenue guidance by nearly $28 million due to declining collaboration renewals and foreign exchange changes. Revenues are projected to be in the range of $1.185 billion to $1.195 million.The company expects earnings per share to be in the range of $5.17 to $5.26.Free cash flow is anticipated to be approximately $365 million.Zacks Rank and Stocks to ConsiderLogMeIn currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the broader technology sector are YY Inc. YY, Science Applications SAIC and Verint Systems VRNT, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth for YY, Science Applications and Verint is projected to be 26.4%, 5% and 10%, respectively.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report YY Inc. (YY): Free Stock Analysis Report SCIENCE APPLICATIONS INTERNATIONAL CORPORATION (SAIC): Free Stock Analysis Report LogMein, Inc. (LOGM): Get Free Report Verint Systems Inc. (VRNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research