Earnings for cloud communications company RingCentral’s (NYSE:RNG) fourth quarter of 2019 have RNG stock up after-hours Monday. This comes after reporting adjusted earnings-per-share of 22 cents, beating out Wall Street’s estimate of 21 cents. Revenue of $252.87 million is above analysts’ estimates of $239.45 million.
Now for a more in-depth look at the most recent RingCentral earnings report.
- Adjusted per-share earnings are down 4.35% from 23 cents in the fourth quarter of 2018.
- Revenue comes in 34% higher than the $188.62 million from the same time last year.
- Operating loss of -$20.37 million is 570% wider than the -$3.04 million in Q4 2018.
- The RingCentral earnings report also has net loss for the quarter come in at -$25.26 million.
- That’s 352.69% worse than the company’s net loss of -$5.58 million from the same period of the year prior.
Vlad Shmunis, founder, Chairman and CEO of RingCentral, said this about the RNG stock earnings report.
“Fourth quarter results were outstanding, driven by continued momentum in mid-market and enterprise markets. We are very excited to have surpassed our previous goal of a $1 billion annual revenue run-rate ahead of schedule.”
The RingCentral earnings report also includes its outlook for 2020. It’s expecting adjusted EPS ranging from 93 cents to 94 cents on revenue of $1.125 billion to $1.135 billion. Wall Streets’ estimates are for adjusted EPS of 93 cents and revenue of $1.10 billion in 2020.
RNG stock was up 3.47% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.