RingCentral Announces Third Quarter 2019 Results
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Ringcentral, Inc. (RNG) Tops Q3 EPS by 3c, Revenues Beat; Raises FY19 EPS/Revenue Guidance Above Consensus
November 4, 2019 4:06 PM ESTRingcentral, Inc. (NYSE: RNG) reported Q3 EPS of $0.22, $0.03 better than the analyst estimate of $0.19. Revenue for the quarter came in at $233 million versus the consensus estimate of $221.33 million.
Third Quarter Financial Highlights
Total revenue increased 34% year over year to $233 million.Software subscriptions revenue increased 33% year over year to $211 million.Annualized Exit Monthly Recurring Subscriptions (ARR) increased 31% year over year to $881 million.RingCentral Office® ARR increased 35% year over year to $800 million.Mid-market and Enterprise ARR increased 61% year over year to $426 million.Enterprise ARR increased 77% year over year to $259... More