RingCentral Earnings, Sales Top Forecasts As Guidance Above Views

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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.




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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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