RingCentral: Q3 Earnings Snapshot
By AP News
Published - Nov 07, 2024, 05:52 PM ET
Last Updated - Nov 07, 2024, 05:52 PM EST
BELMONT, Calif. (AP) — BELMONT, Calif. (AP) — RingCentral Inc. (RNG) on Thursday reported a loss of $7.9 million in its third quarter.
On a per-share basis, the Belmont, California-based company said it had a loss of 9 cents. Earnings, adjusted for one-time gains and costs, came to 95 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The cloud-based phone system provider for small businesses posted revenue of $608.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $601.9 million.
