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

RingCentral

01/08/2024 23:02

* RingCentral Inc  RNG.N  reported quarterly adjusted
earnings of
91 cents​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of 83
cents.  The mean expectation of twenty two analysts for the
quarter was for earnings of 88 cents per share. Wall Street
expected results to range from 86 cents to 93 cents per share.
    * Revenue rose 9.9% to $592.91 million from a year ago;
analysts
expected $586.38 million. 
    * RingCentral Inc's reported EPS for the quarter was a loss
of 16
cents​.
    * The company reported a quarterly loss of $14.75 million.
    * RingCentral Inc shares had risen by 24.3% this quarter and
gained 3.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 13
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for RingCentral Inc
is $39.00 
This summary was machine generated from LSEG data August 1 at
10:02 p.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
 Jun. 30 2024      0.88           0.91           Beat
 Mar. 31 2024      0.80           0.87           Beat
 Dec. 31 2023      0.82           0.86           Beat
 Sep. 30 2023      0.75           0.78           Beat