BELMONT, Calif. (AP) _ RingCentral Inc. (RNG) on Monday reported a loss of $25.3 million in its fourth quarter.
The Belmont, California-based company said it had a loss of 30 cents per share. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The cloud-based phone system provider for small businesses posted revenue of $252.9 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $238.9 million.
For the year, the company reported that its loss widened to $53.6 million, or 64 cents per share. Revenue was reported as $902.9 million.
For the current quarter ending in April, RingCentral expects its per-share earnings to range from 18 cents to 19 cents.
The company said it expects revenue in the range of $257 million to $259 million for the fiscal first quarter.
RingCentral expects full-year earnings in the range of 93 cents to 94 cents per share, with revenue ranging from $1.13 billion to $1.14 billion.
RingCentral shares have increased 26% since the beginning of the year. In the final minutes of trading on Monday, shares hit $212.72, more than doubling in the last 12 months.