RingCentral Earnings, Sales Top Forecasts As Guidance Above Views

RingCentral Earnings, Sales Top Forecasts As Guidance Above Views

RingCentral earnings and revenue for the fourth quarter, reported late Monday, topped analyst estimates. RingCentral stock climbed in after-hours trading as March quarter and full-year 2019 revenue guidance topped expectations.


The enterprise software maker said adjusted earnings were 23 cents a share, up 64% from a year ago, with revenue rising 34% to $189 million. A year earlier, RingCentral (RNG) earned 14 cents a share on sales of $140.5 million.

Analysts expected RingCentral earnings to come in at 18 cents a share on sales of $181 million for the period ended Dec. 31.

For the March quarter, RingCentral said it expects profit of 15 cents a share at the midpoint of its guidance, in line with estimates. The company forecast revenue in a range of $191.5 million to $194.5 million. That topped estimates of $189 million.

RingCentral 2019 Guidance Tops Views

RingCentral projected full-year 2019 revenue of $853 million at the midpoint of its guidance, topping estimates of $823 million. It projected profit of 71 cents per share, slightly above forecasts of 68 cents.

Shares in the provider of software-as-a-service solutions for business communication climbed 3.2% to 103 in after-hours trading on the stock market today. The company's cloud communications platform offers customers voice, chat, conferencing and application integration.

RingCentral stock had gained 90% from a year earlier as of the close of Monday's regular session. RingCentral stock slipped 1% to 99.83 in Monday's regular session.

The company competes with 8×8 (EGHT) and Five9 (FIVN).


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