RingCentral Inc reports results for the quarter ended September 30 - Earnings Summary

RingCentral

08/11/2024 16:26

* RingCentral Inc  RNG.N  reported quarterly adjusted
earnings of
95 cents​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of 78 cents.  The mean expectation of nineteen analysts for the
quarter was for earnings of 92 cents per share. Wall Street
expected results to range from 91 cents to 94 cents per share.
    * Revenue rose 9.1% to $608.77 million from a year ago;
analysts
expected $602.12 million. 
    * RingCentral Inc's reported EPS for the quarter was a loss
of 9
cents​.
    * The company reported a quarterly loss of $7.85 million.
    * RingCentral Inc shares had risen by 22.7% this quarter and
gained 14.3% so far this year.

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 10 "strong buy" or "buy," 10
"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 $41.00 
This summary was machine generated from LSEG data November 8 at
04:26 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
 Sep. 30 2024      0.92           0.95           Beat
 Jun. 30 2024      0.88           0.91           Beat
 Mar. 31 2024      0.80           0.87           Beat
 Dec. 31 2023      0.82           0.86           Beat