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RingCentral +5.4% after beat-and-raise in Q3 [Seeking Alpha]

RINGCENTRAL INC (RNG)  More Company Research Source: Seeking Alpha
Last ringcentral inc earnings: 11/5 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ir.ringcentral.com
PDF RingCentral +5.4% after beat-and-raise in Q3RingCentral (NYSE:RNG) hasgained 5.4% postmarket after its top and bottom line beat expectations in Q3 and it boosted full-year guidance.Revenues grew by a third, and subscriptions revenue by 32%.Meanwhile annualized exit monthly recurring subscriptions (ARR) rose 31% to $674M; RingCentral Office ARR rose 36% to $592M. Mid-market and enterprise ARR rose 75%, to $270M, as enterprise ARR more than doubled to $146M.That's "excellent," says founder, Chairman and CEO Vlad Shmunis. "Our mid-market and enterprise businesses continue to lead the way supported by momentum from our channel partners ... we believe we are well positioned to achieve our goal of exceeding $1 billion in revenue in 2020.”For Q4, it's guiding to revenue of $179M-$182M (27-29% growth, and above consensus for $175.6M), operating margin of 7.9-8.1%, and EPS of $0.17-$0.19 (vs. an expected $0.17).For the full year, it's raising guidance on revenues to $664M-$667M from $649M-$656 [Read more]

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