LogMeIn LOGM reported better-than-expected results for third-quarter 2018.The company reported non-GAAP earnings of $1.40 per share, which came ahead of the Zacks Consensus Estimate of $1.34 and marked a year-over-year improvement of 20.7%.The company’s non-GAAP revenues for the quarter came in at $309.6 million, beating the Zacks Consensus Estimate of $302.9 million and growing approximately 15% year over year, driven by Jive, Bold360 ai and LastPass.The company’s efforts to address renewal headwinds in Communications & Collaboration business are showing positive returns. Moreover, the initial traction for the company’s GoToMeeting and Jive bundle is also a positive. Buoyed by the encouraging results, the company raised its guidance for 2018.Quarter DetailCollaboration Cloud business, accounting for 57% of total revenues, grew 2% year over year to $175 million. Jive revenues of $27 million grew more than 30% year over year in the quarter. Collaboration revenues, excluding Jive, declined 2% on a year-over-year basis.Identity and Access Management Cloud revenues of $90 million rose 14% from the year-ago quarter, generating 29% of total revenues, driven by LastPass, which continues to show great momentum. Revenues for LastPass grew 70% year over year in the quarter.Service Cloud business, excluding Xively, remained flat on a year-over-year basis at $44 million, representing 14% of revenues. The segment is driven by Bold360 which, given the customer interest and competitive position, demonstrates solid growth opportunity in the large and strategic customer engagement market.International revenues contributed 22% to total revenues.The company’s gross renewal rate across all products was nearly 80% driven by strong renewals in Collaboration business. Excluding Jive, renewal rates for Collaboration were 83% in the quarter, approximately 550 basis points (bps) higher sequentially.During the quarter, the company’s non-GAAP operating income increased 12% year over year to $99.3 million. However, operating margin contracted 110 bps to 32.1%.LogMein, Inc. Price, Consensus and EPS Surprise LogMein, Inc. Price, Consensus and EPS Surprise | LogMein, Inc. QuoteBalance Sheet and Other Financial DetailsLogMeIn ended the third quarter with cash and cash equivalents of $252.4 million compared with $198.9 million in the previous quarter.The company generated $73.7 million of cash flow from operational activities.GuidanceFor the fourth quarter of 2018, the company expects revenues in the range of $306-$307 million. The company has taken a conservative approach with revenue guidance as it believes improvement of renewals and revenue performance to be a multi-quarter effort.However, the company believes the addition of features in Bold360 ai in the fourth quarter will help in expanding “use cases into sales and e-commerce-focused digital engagement.”Adjusted EBITDA is projected to be between $115 million and 116 million. Adjusted EBITDA margin is anticipated to be 38%.The company expects earnings per share to be in the range of $1.41 to $1.42.For 2018, the company increased revenue and earnings guidance. Revenues are projected to be in the range of $1.203 billion to $1.204 billion compared with $1.185 billion to $1.195 billion projected earlier. Free cash flow is anticipated to be approximately $370 million.The company expects earnings per share to be in the range of $5.33 to $5.34, up from the earlier guidance of $5.17 to $5.26.Zacks Rank and Stocks to ConsiderLogMeIn currently carries a Zacks Rank #4 (Sell).A few better-ranked stocks in the broader technology sector are Vishay Intertechnology, Inc. VSH, Cadence Design Systems, Inc. CDNS and CyberArk Software Ltd. CYBR 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 Vishay, Cadence and CyberArk is projected to be 9.2%, 12% and 19.8%, respectively.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>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 CyberArk Software Ltd. (CYBR): Free Stock Analysis Report LogMein, Inc. (LOGM): Free Stock Analysis Report Cadence Design Systems, Inc. (CDNS): Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research