RingCentral Inc (RNG) Releases Earnings Results, Beats Expectations By $0.01 EPS

RingCentral Inc (RNG) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.00. The company posted revenue of $83.90 million in the period, compared to analysts expectations of $81.19 million. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

RingCentral Inc opened for trading at $18.4 and hit $18.83 on the upside on Friday, eventually ending the session at $18.83, with a gain of 2.23% or 0.41 points. The heightened volatility saw the trading volume jump to 3,87,640 shares. Company has a market cap of $1,356 M.

In a different news, on Feb 24, 2016, David Sipes (EVP and Chief Revenue Officer) sold 1,101 shares at $18.50 per share price. According to the SEC, on Feb 24, 2016, Kira Makagon (EVP, Innovation) sold 977 shares at $18.50 per share price. On Jan 6, 2016, John H Marlow (SVP & General Counsel) sold 4,000 shares at $22.42 per share price, according to the Form-4 filing with the securities and exchange commission.

RingCentral Inc. is a provider of software-as-a-service (SaaS) solutions for business communications. The Company’s products are RingCentral Office RingCentral Professional and RingCentral Fax which it sells as monthly subscriptions to its customers. The Company’s flagship product RingCentral Office is a multi-location multi-user enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments. RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.

RingCentral Inc

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