RingCentral Announces Third Quarter 2020 Results
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Ringcentral, Inc. (RNG) Tops Q3 EPS by 2c, Revenues Beat; Raises FY20 EPS/Revenue Guidance Above Consensus
November 9, 2020 4:06 PM ESTRingcentral, Inc. (NYSE: RNG) reported Q3 EPS of $0.26, $0.02 better than the analyst estimate of $0.24. Revenue for the quarter came in at $304 million versus the consensus estimate of $287.33 million.
Third Quarter Financial Highlights
Total revenue increased 30% year over year to $304 million.Subscriptions revenue increased 33% year over year to $280 million.Annualized Exit Monthly Recurring Subscriptions (ARR) increased 34% year over year to $1.2 billion.RingCentral Office® ARR increased 36% year over year to $1.1 billion.Mid-market and Enterprise ARR increased 49% year over year to $633 million.Enterprise ARR increased 55% year over year to $401... More