RingCentral's stock plunges despite revenue, earnings beat

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RingCentral Inc.'s stock is down more than 10% in extended trading Monday, despite beating revenue and earnings expectations. The cloud-based phone system provider for small businesses reported a net loss of $21.5 million in the fiscal second quarter, compared to a net loss of $159.5 million in the same quarter last year. Adjusted earnings were 83 cents a share, while revenue increased by 11% to $539 million.

RingCentral Inc.’s RNG stock is getting creamed, down more than 10% in extended trading Monday. The cloud-based phone system provider for small businesses reported a fiscal second-quarter net loss of $21.5 million, or 23 cents a share, compared with a net loss of $159.5 million, or $1.68 a share, in the year-ago quarter. Adjusted earnings were 83 cents a share. Revenue rose 11% to $539.3 million from $486.9 million a year ago.

’s RNG stock is getting creamed, down more than 10% in extended trading Monday. The cloud-based phone system provider for small businesses reported a fiscal second-quarter net loss of $21.5 million, or 23 cents a share, compared with a net loss of $159.5 million, or $1.68 a share, in the year-ago quarter. Adjusted earnings were 83 cents a share. Revenue rose 11% to $539.3 million from $486.9 million a year ago.

 

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