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

RingCentral

07/08/2023 23:01

* RingCentral Inc  RNG.N  reported quarterly adjusted
earnings of
83 cents​​ per share for the quarter ended in June. The mean
expectation of twenty seven analysts for the quarter was
for earnings of 75 cents per share.
    * Revenue rose 10.8% to $539.31 million from a year ago;
analysts
expected $536.19 million. 
    * RingCentral Inc's reported EPS for the quarter was a loss
of 23
cents​.
    * The mean earnings estimate of analysts had risen by
about 3% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company. 
    * RingCentral Inc shares had risen by 18.1% this quarter and
gained 9.2% so far this year.
    * The company reported a quarterly loss of $21.48 million.
    * Wall Street's median 12-month price target for RingCentral
Inc
is $45.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 20 "strong buy" or "buy," 9
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
August 7 at 10:01 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      0.75           0.83           Beat
 Mar. 31 2023      0.69           0.76           Beat
 Dec. 31 2022      0.59           0.60           Beat
 Sep. 30 2022      0.51           0.55           Beat