BELMONT, Calif. (AP) — BELMONT, Calif. (AP) — RingCentral Inc. (RNG) on Wednesday reported a loss of $284.1 million in its fourth quarter.
On a per-share basis, the Belmont, California-based company said it had a loss of $2.97. Earnings, adjusted for one-time gains and costs, were 60 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The cloud-based phone system provider for small businesses posted revenue of $524.7 million in the period, which missed Street forecasts. Thirteen analysts surveyed by Zacks expected $528.4 million.
For the year, the company reported a loss of $879.2 million, or $9.23 per share. Revenue was reported as $1.99 billion.
For the current quarter ending in March, RingCentral expects its per-share earnings to range from 69 cents to 70 cents.
The company said it expects revenue in the range of $526 million to $530 million for the fiscal first quarter.
RingCentral expects full-year earnings in the range of $3.04 to $3.10 per share, with revenue ranging from $2.18 billion to $2.2 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RNG at https://www.zacks.com/ap/RNG
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