RingCentral (RNG) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Zacks Investment Research | Nov 05, 2019 10:51PM ET
RingCentral (NYSE:RNG) reported third-quarter 2019 non-GAAP earnings of 22 cents per share, which surpassed the Zacks Consensus Estimate by 15.8%. The figure increased 15.8% on a year-over-year basis.
Net revenues of $233.4 million also beat the consensus mark of $222 million and grew 34.2% from the year-ago quarter. The results reflected a solid demand for RingCentral’s cloud communication solutions.
RingCentral raised 2019 guidance following the third-quarter results. Notably, shares increased 2.7% to close at $161.96 on Nov 5.
RingCentral’s shares have surged 96.4% year to date compared with the Zacks Investment Research
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