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Ringcentral, Inc. (RNG) Tops Q1 EPS by 1c

May 6, 2020 4:50 PM EDT

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Ringcentral, Inc. (NYSE: RNG) reported Q1 EPS of $0.19, $0.01 better than the analyst estimate of $0.18. Revenue for the quarter came in at $268 million versus the consensus estimate of $256.65 million.

“We delivered another solid quarter, driven by continued strength in mid-market and enterprise markets,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “During this difficult time, it has become even more apparent that legacy on-premise communication systems cannot meet flexible business needs in a work from anywhere environment. Since inception, RingCentral\'s cloud platform was designed to enable employees to communicate and collaborate from anywhere, on any device, in any mode. This quarter we introduced RingCentral Video (RCV), a reimagined video meetings experience. RCV now completes our differentiated Message Video Phone (MVP) solution that enables workers to stay productive as they work from anywhere.”

GUIDANCE:

Ringcentral, Inc. sees FY2020 EPS of $0.91-$0.94, versus the consensus of $0.91. Ringcentral, Inc. sees FY2020 revenue of $1.024-1.03 billion, versus the consensus of $1.12 billion.

Ringcentral, Inc. sees Q2 2020 EPS of $0.20-$0.21, versus the consensus of $0.21. Ringcentral, Inc. sees Q2 2020 revenue of $244.5-246.5 billion, versus the consensus of $267.4 billion.

For earnings history and earnings-related data on Ringcentral, Inc. (RNG) click here.



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