RingCentral, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 03:06 am IST
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RingCentral, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 558.16 million compared to USD 509.03 million a year ago. Net loss was USD 42.12 million compared to USD 284.62 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 2.98 a year ago. Diluted loss per share from continuing operations was USD 0.45 compared to USD 2.98 a year ago.
For the nine months, revenue was USD 1,631.16 million compared to USD 1,463.58 million a year ago. Net loss was USD 118 million compared to USD 595.1 million a year ago. Basic loss per share from continuing operations was USD 1.24 compared to USD 6.26 a year ago. Diluted loss per share from continuing operations was USD 1.24 compared to USD 6.26 a year ago.
RingCentral, Inc. is a provider of global enterprise cloud communications, video meetings, collaboration, and contact center software-as-a-service (SaaS) solutions. The Companyâs cloud-based business communications, collaboration, and customer engagement solutions function across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones. The Company allows for communication across multiple modes, including high-definition (HD) voice, video, messaging and collaboration, conferencing, online meetings and fax. It offers three products in its portfolio, namely RingCentral MVP, a unified Communications as a Service (UCaaS) platform, including team messaging, video meetings, and a cloud phone system; Customer engagement solutions, including RingCentral Contact Center, RingCentral Engage Digital and Voice; and RingCentral Video, its video meeting solution with team messaging that enables smart video meetings.