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Here's What Key Metrics Tell Us About RingCentral (RNG) Q2 Earnings
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For the quarter ended June 2023, RingCentral (RNG - Free Report) reported revenue of $539.31 million, up 10.8% over the same period last year. EPS came in at $0.83, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $536.04 million, representing a surprise of +0.61%. The company delivered an EPS surprise of +10.67%, with the consensus EPS estimate being $0.75.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how RingCentral performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gross Margin- Subscriptions: 74% compared to the 82.25% average estimate based on nine analysts.
Gross Margin- Other: -10% compared to the 14.4% average estimate based on six analysts.
Annualized Exit Monthly Recurring Subscriptions (ARR): $2.22 billion versus the two-analyst average estimate of $2.25 billion.
Revenues- Subscriptions: $513.63 million versus the 11-analyst average estimate of $512.15 million. The reported number represents a year-over-year change of +10.9%.
Revenues- Other: $25.67 million compared to the $23.88 million average estimate based on 11 analysts. The reported number represents a change of +7.4% year over year.
Shares of RingCentral have returned +16.9% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Here's What Key Metrics Tell Us About RingCentral (RNG) Q2 Earnings
For the quarter ended June 2023, RingCentral (RNG - Free Report) reported revenue of $539.31 million, up 10.8% over the same period last year. EPS came in at $0.83, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $536.04 million, representing a surprise of +0.61%. The company delivered an EPS surprise of +10.67%, with the consensus EPS estimate being $0.75.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how RingCentral performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross Margin- Subscriptions: 74% compared to the 82.25% average estimate based on nine analysts.
- Gross Margin- Other: -10% compared to the 14.4% average estimate based on six analysts.
- Annualized Exit Monthly Recurring Subscriptions (ARR): $2.22 billion versus the two-analyst average estimate of $2.25 billion.
- Revenues- Subscriptions: $513.63 million versus the 11-analyst average estimate of $512.15 million. The reported number represents a year-over-year change of +10.9%.
- Revenues- Other: $25.67 million compared to the $23.88 million average estimate based on 11 analysts. The reported number represents a change of +7.4% year over year.
View all Key Company Metrics for RingCentral here>>>Shares of RingCentral have returned +16.9% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.