RingCentral: Fourth Quarter Financial Overview

RingCentral Announces Strong Fourth Quarter Results

RingCentral Inc., headquartered in Belmont, California, revealed a net profit of $23 million for the fourth quarter.

The company reported earnings of $0.26 per share, while adjusted earnings—excluding certain one-time items—reached $1.18 per share.

These results surpassed analysts’ expectations, as the consensus from five Zacks Investment Research analysts had projected earnings of $1.14 per share.

During the quarter, RingCentral, a provider of cloud-based communication solutions for small businesses, generated $644 million in revenue, outperforming the $642.3 million anticipated by four Zacks analysts.

For the full year, RingCentral posted a total profit of $43.4 million, or $0.48 per share, with annual revenue totaling $2.52 billion.

Outlook for the Next Quarter and Year

• For the first quarter ending in March, the company expects earnings per share to fall between $1.16 and $1.19.
• Projected revenue for the fiscal first quarter is estimated between $640 million and $645 million.
• For the full year, RingCentral anticipates earnings per share in the range of $4.76 to $4.97.

This article was produced by Automated Insights using data provided by Zacks Investment Research.