Brief: Ringcentral Announces First Quarter 2023 Results

RingCentral

09/05/2023 21:33

May 9 (Reuters) - Ringcentral Inc  RNG.N :
    * RINGCENTRAL ANNOUNCES FIRST QUARTER 2023 RESULTS
    * QTRLY TOTAL REVENUE INCREASED 14% YEAR OVER YEAR TO $534
MILLION
    * RAISING FY TOTAL REVENUE RANGE TO $2.187 TO $2.205
BILLION,
REPRESENTING ANNUAL GROWTH OF 10% TO 11%
    * RAISING FY NON-GAAP OPERATING MARGIN TO AT LEAST 18.5%,
COMPARED
TO AT LEAST 18.0% PREVIOUSLY
    * RAISING FY NON-GAAP EPS GUIDANCE TO $3.19 TO $3.25 BASED
ON 98.0
TO 99.0 MILLION FULLY DILUTED SHARES
    * SEES FY RESTRUCTURING COSTS OF $8 TO $10 MILLION
    * SEES Q2 TOTAL REVENUE RANGE OF $535 TO $537 MILLION,
REPRESENTING YEAR-OVER-YEAR GROWTH OF 10%
    * SEES Q2 NON-GAAP EPS OF $0.74 TO $0.76 BASED ON 96.5 TO
97.5
MILLION FULLY DILUTED SHARES
    * SEES  Q2 RESTRUCTURING COSTS OF $3 MILLION
    * Q1 EARNINGS PER SHARE VIEW $0.69, REVENUE VIEW $527.9
MILLION --
REFINITIV IBES DATA
    * FY2023 EARNINGS PER SHARE VIEW $3.08, REVENUE VIEW $2.19
BILLION
-- REFINITIV IBES DATA
    * Q2 EARNINGS PER SHARE VIEW $0.73, REVENUE VIEW $535.9
MILLION --
REFINITIV IBES DATA

Source text for Eikon:  ID:nBw6hN0cYa 
Further company coverage:  RNG.N 

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