RingCentral Inc. (RNG)

[eastunder]

RingCentral's Q4 Non-GAAP EPS, Revenue Advance; Q1, 2023 Guidance Issued

4:33 PM ET, 02/15/2023 - MT Newswires

04:33 PM EST, 02/15/2023 (MT Newswires) -- RingCentral (RNG) on Wednesday reported Q4 diluted non-GAAP net income per share of $0.60, up from $0.39 a year earlier.

Analysts surveyed by Capital IQ expected $0.59 a share.

Revenue for the quarter ended Dec. 31 was $525 million, up from $448 million last year.

Analysts polled by Capital IQ expected $527.9 million.

For Q1, the company expects non-GAAP EPS of $0.69 to $0.70 per diluted share on revenue of between $526 million to $530 million, reflecting annual growth of 12% to 13%. Analysts polled by Capital IQ expect earnings of $0.62 on revenue of $545 million.

For 2023, it projects diluted non-GAAP EPS to be in the range of $3.04 to $3.10, and revenue of between $2.18 billion to $2.20 billion, representing an annual growth of 10% to 11%.

The company also announced a new five-year $600 million credit facility.