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

RingCentral

09/05/2023 23:03

* RingCentral Inc  RNG.N  reported quarterly adjusted
earnings of
76 cents​​ per share for the quarter ended in March. The mean
expectation of twenty eight analysts for the quarter was
for earnings of 69 cents per share.
    * Revenue rose 14.1% to $533.69 million from a year ago;
analysts
expected $527.94 million. 
    * RingCentral Inc's reported EPS for the quarter was a loss
of 57
cents​.
    * The mean earnings estimate of analysts had risen by
about 10.5%
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 fallen by 13.0% this
quarter and
lost 24.6% so far this year.
    * The company reported a quarterly loss of $54.4 million.
    * Wall Street's median 12-month price target for RingCentral
Inc
is $45.10 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 20 "strong buy" or "buy," 11
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data May
9 at 10:03 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2023      0.69           0.76           Beat
 Dec. 31 2022      0.59           0.60           Beat
 Sep. 30 2022      0.51           0.55           Beat
 Jun. 30 2022      0.40           0.45           Beat