U.S. Markets closed

RingCentral: 3Q Earnings Snapshot

BELMONT, Calif. (AP) _ RingCentral Inc. (RNG) on Monday reported a loss of $9.5 million in its third quarter.

The Belmont, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The cloud-based phone system provider for small businesses posted revenue of $173.8 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $166.7 million.

For the current quarter ending in December, RingCentral expects its per-share earnings to range from 17 cents to 19 cents.

The company said it expects revenue in the range of $179 million to $182 million for the fiscal fourth quarter.

RingCentral expects full-year earnings in the range of 71 cents to 73 cents per share, with revenue ranging from $664 million to $667 million.

RingCentral shares have climbed 55 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $75.05, a rise of 70 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RNG at https://www.zacks.com/ap/RNG