RingCentral: 4Q Earnings Snapshot
BELMONT, Calif. (AP) _ RingCentral Inc. (RNG) on Monday reported a loss of $5.7 million in its fourth quarter.
On a per-share basis, the Belmont, California-based company said it had a loss of 7 cents. Earnings, adjusted for stock option expense and amortization costs, came to 23 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The cloud-based phone system provider for small businesses posted revenue of $188.6 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $180.9 million.
For the year, the company reported that its loss widened to $26.2 million, or 33 cents per share. Revenue was reported as $673.6 million.
For the current quarter ending in April, RingCentral expects its per-share earnings to range from 14 cents to 16 cents.
The company said it expects revenue in the range of $191.5 million to $194.5 million for the fiscal first quarter.
RingCentral expects full-year earnings in the range of 69 cents to 73 cents per share, with revenue ranging from $847 million to $859 million.
RingCentral shares have climbed 21 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $99.94, an increase of 92 percent in the last 12 months.