RingCentral: Q3 Earnings Insights
Shares of RingCentral (NYSE:RNG) rose 2.2% in after-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share increased 18.18% over the past year to $0.26, which beat the estimate of $0.24.
Revenue of $303,624,000 up by 30.11% from the same period last year, which beat the estimate of $287,330,000.
Guidance
RingCentral Sees Q4 Adj. EPS $0.26-$0.27 vs $0.26 Est., Sales $315M-$318M vs $307.56M Est.; Raises FY20 Adj. EPS Guidance From $0.92-$0.94 to $0.96 vs $0.93 Est., Raises Sales Guidance From $1.135B-$1.143B To $1.164B-$1.167B vs $1.14B Est.
Recent Stock Performance
Company's 52-week high was at $317.84
Company's 52-week low was at $134.85
Price action over last quarter: down 9.76%
Company Description
RingCentral is a unified-communication-as-a-service, or UCaaS, provider. RingCentral's software provides an easy-to-use, integrated communication application that allows for a single user experience across mobile and desktop applications. The software lets businesses communicate and collaborate using voice, video, text, Internet messaging, and conference calls on a single platform. Ninety percent of RingCentral's revenue comes from its RingCentral Office application, which is available in four tiers based on integration needs and the number of employees. The company was founded in 1999 and is headquartered in Belmont, California.
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