AT&T Extends Relationship With RingCentral to Boost Profits
AT&T Inc. T recently announced that it is extending relationship with RingCentral, Inc. RNG to provide cloud-based communications services to more businesses. RingCentral is a leading provider of global enterprise cloud communications and collaboration solutions.
AT&T Office@Hand, which is based on RingCentral Office platform, is a cost-effective and cloud-based IP business communication service that allows employees to work virtually anywhere, connect seamlessly and collaborate more effectively. It operates on a wide selection of devices to connect employees via broadband, cellular and Wi-Fi. It provides mobile-first voice, video, conferencing, messaging and team collaboration on an open platform.
The latest move is part of AT&T’s strategy to bring technologies required for digital transformation in organizations. The telco giant aims to sell the solution through direct and indirect sales channels to enterprises and vertical sectors like financial services, healthcare and government. With this, AT&T’s business customers will have broader access to RingCentral’s industry leading technology to enhance productivity.
By working with RingCentral, AT&T will be able to deliver cloud communications and collaboration solutions to more businesses and help their workforces to be more productive. All AT&T Office@Hand editions allow users to hold high-definition video conferences across desktops and select web-connected devices. It also allows them to deliver presentations with office documents and share websites in cloud-based storage such as Box from AT&T. Each user on AT&T Office@Hand phone system gets his own conference bridge with host and participant access codes enabling everyone in team to hold an unlimited number of conferences.
With such strategic collaborations, the company aims to further strengthen its position in the market and improve its share price performance. In the past three months, shares of AT&T have lost 5.3% against growth of 4.7% for the industry.
AT&T currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the industry include United States Cellular Corporation USM and Windstream Holdings, Inc. WIN, both carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United States Cellular has a long-term earnings growth expectation of 1%. It surpassed earnings estimates thrice in the trailing four quarters with an average positive surprise of 303.6%.
Windstream surpassed earnings estimates twice in the trailing four quarters with an average positive surprise of 23.5%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ringcentral, Inc. (RNG) : Free Stock Analysis Report
AT&T Inc. (T) : Free Stock Analysis Report
Windstream Holdings, Inc. (WIN) : Free Stock Analysis Report
United States Cellular Corporation (USM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
