Ringcentral, Inc. (RNG) Tops Q1 EPS by 2c

Ringcentral, Inc. (NYSE: RNG) reported Q1 EPS of ($0.09), $0.02 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $65.3 million versus the consensus estimate of $64.15 million.

“The first quarter marked a strong start to the year for RingCentral as we made progress across a number of our strategic initiatives,” said Vlad Shmunis, RingCentral’s Chairman and CEO. “We gained additional traction in the enterprise market, highlighted by a 1,000 user win and multiple hundred plus user wins. We also extended our track record of innovation and expanded our differentiation in the market with several key product enhancements, as well as the launch of the RingCentral Connect Platform™ and the announcement of RingCentral Contact Center. In addition, we delivered significant gross and operating margin leverage as we continue the march toward profitability.”

The company also announced today that David Berman, President, has resigned and will be leaving the company as of May 15, 2015. “I’d like to thank Dave for his contributions to the Company over the past two years and wish him well in his future endeavors. As we look ahead, I’m confident that the company will continue to execute at a high level as we have strong leaders in place in sales, marketing, and support, each of whom will report directly to me going forward,” said Shmunis.

For earnings history and earnings-related data on Ringcentral, Inc. (RNG) click here.

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