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RingCentral: 3Q Earnings Snapshot

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BELMONT, Calif. (AP) _ RingCentral Inc. (RNG) on Monday reported a loss of $21 million in its third quarter.

The Belmont, California-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The cloud-based phone system provider for small businesses posted revenue of $303.6 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $287 million.

RingCentral expects full-year earnings to be 96 cents per share, with revenue in the range of $1.16 billion to $1.17 billion.

RingCentral shares have risen 58% since the beginning of the year. In the final minutes of trading on Monday, shares hit $267.01, a rise of 58% 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