RingCentral Announces First Quarter 2021 Results
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RingCentral, Inc. (RNG) Tops Q1 EPS by 2c, Revenues Beat; Raises FY21 EPS Outlook, 2Q & FY21 Revenues Guidance Below Consensus
May 4, 2021 5:07 PM EDTRingCentral, Inc. (NYSE: RNG) reported Q1 EPS of $0.27, $0.02 better than the analyst estimate of $0.25. Revenue for the quarter came in at $352 million versus the consensus estimate of $339.93 million.
First Quarter Financial Highlights
Total revenue increased 32% year over year to $352 million.Subscriptions revenue increased 34% year over year to $325 million.Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 37% year over year to $1.4 billion.RingCentral Office® ARR (UCaaS + CCaaS) increased 40% year over year to $1.3 billion.Direct and Partners Office ARR(1) increased 33% year over year to $817 million, an acceleration of 8 points... More