BELMONT, Calif. (AP) — BELMONT, Calif. (AP) — RingCentral Inc. (RNG) on Tuesday reported second-quarter net income of $13.2 million.
On a per-share basis, the Belmont, California-based company said it had profit of 14 cents. Earnings, adjusted for one-time gains and costs, were $1.06 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The cloud-based phone system provider for small businesses posted revenue of $620.4 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $617.7 million.
For the current quarter ending in September, RingCentral expects its per-share earnings to range from $1.06 to $1.08.
The company expects full-year earnings in the range of $4.20 to $4.32 per share.
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