BELMONT, Calif. (AP) — BELMONT, Calif. (AP) — RingCentral Inc. (RNG) on Thursday reported fourth-quarter net income of $23 million.
The Belmont, California-based company said it had net income of 26 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.18 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The cloud-based phone system provider for small businesses posted revenue of $644 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $642.3 million.
For the year, the company reported profit of $43.4 million, or 48 cents per share. Revenue was reported as $2.52 billion.
For the current quarter ending in March, RingCentral expects its per-share earnings to range from $1.16 to $1.19.
The company said it expects revenue in the range of $640 million to $645 million for the fiscal first quarter.
RingCentral expects full-year earnings in the range of $4.76 to $4.97 per share.
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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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