RingCentral (NYSE: RNG) reported fourth-quarter earnings of 22 cents per share on Monday, which beat the analyst consensus estimate of 21 cents. This is a 4.35% decrease over earnings of 23 cents per share from the same period last year.
The company reported quarterly sales of $252.865 million, which beat the analyst consensus estimate of $239.45 million. This is a 34.06% increase over sales of $188.624 million the same period last year.
"We are very excited to have surpassed our previous goal of a $1 billion annual revenue run-rate ahead of schedule," said Vlad Shmunis, RingCentral's CEO. "Our success is rooted in our deep commitment to product excellence and a culture of strategic partnerships, as evidenced by our unique relationships with AT&T, Avaya, and now Atos. These partnerships are a strong validation of our industry leadership and provide additional opportunities for our long-term growth."
The company sees first-quarter sales at $257-$259 million versus the $249.2 million estimate.
RingCentral shares were trading up 2.5% at $218 at time of publication. The stock has a 52-week high of $213.55 and a 52-week low of $95.34.
Avaya Rallies Following Deal With RingCentral
See more from Benzinga
- DaVita Reports Q4 Earnings Beat, Raises Guidance
- Slack's Stock Trades Higher On Report IBM Moves Employees To Platform
- Allergan Reports Q4 Earnings Beat
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.