BELMONT, Calif. (AP) 鈥� BELMONT, Calif. (AP) 鈥� RingCentral Inc. (RNG) on Thursday reported first-quarter net income of $30.6 million.
On a per-share basis, the Belmont, California-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, came to $1.20 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The cloud-based phone system provider for small businesses posted revenue of $644.2 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $642.8 million.
For the current quarter ending in June, RingCentral expects its per-share earnings to range from $1.15 to $1.17.
The company said it expects revenue in the range of $648 million to $653 million for the fiscal second quarter.
RingCentral expects full-year earnings in the range of $4.85 to $5.01 per share, with revenue ranging from $2.62 billion to $2.64 billion.
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