RingCentral Inc reports results for the quarter ended in December - Earnings Summary

RingCentral

21/02/2024 10:42

* RingCentral Inc  RNG.N  reported quarterly adjusted
earnings of
86 cents​​ per share for the quarter ended in December, higher
than the same quarter last year, when the company reported EPS
of 60 cents.  The mean expectation of twenty five analysts for
the quarter was for earnings of 82 cents per share. Wall Street
expected results to range from 78 cents to 86 cents per share.
    * Revenue rose 8.9% to $571.27 million from a year ago;
analysts
expected $570.42 million. 
    * RingCentral Inc's reported EPS for the quarter was a loss
of 50
cents​.
    * The company reported a quarterly loss of $47.24 million.
    * RingCentral Inc shares had fallen by 9.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 14
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for RingCentral
Inc
is $37.00 

This summary was machine generated from LSEG data February 21 at
10:41 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.82           0.86           Beat
 Sep. 30 2023      0.75           0.78           Beat
 Jun. 30 2023      0.75           0.83           Beat
 Mar. 31 2023      0.69           0.76           Beat