RingCentral, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:36 pm EST
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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 artificial intelligence (AI)-driven cloud business communications, contact center, video, and hybrid event 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 offers a fully integrated business communications platform, which includes cloud private branch exchanges (PBX), cloud contact center, video meetings and webinars, and events. Its product portfolio includes RingCentral MVP, Contact Center as a Service (CCaaS), RingCentral Video, RingCentral Events, and RingSense. RingCentral MVP is a unified Communications as a Service (UCaaS) platform, which includes team messaging, video meetings, and a cloud phone system. RingCentral Video is a video meeting solution with team messaging that enables smart video meetings, rooms solutions, and webinars.
RINGCENTRAL, INC. 
