5 Stocks in Focus After Posting Their Earnings Reports

3. RingCentral, Inc. (NYSE:RNG)

Number of Hedge Fund Holders: 47

Shares of RingCentral, Inc. (NYSE:RNG) recently hit a new 52-week low even after delivering solid profit and sales for the fourth quarter. The company reported adjusted earnings of 39 cents per share, topping expectations of 37 cents per share.

Revenue for the quarter rose 34 percent on a year-over-year basis to $448 million, exceeding the consensus of $434.94 million. Subscription revenue jumped 37 percent to $420 million and represented more than 90 percent of the total quarterly sales.

Looking forward, RingCentral, Inc. (NYSE:RNG) expects adjusted earnings of around 34 cents per share for the first quarter. Moreover, revenue for the same period is expected to come in between $455 – $459 million, translating to a surge between 29 – 30 percent over last year.

Discussing the results, CEO of RingCentral, Inc. (NYSE:RNG), Vlad Shmunis, said:

“Fourth quarter results were outstanding, driven by continued momentum with upmarket customers and ramping contributions from our key partners. Our commitment to innovation is driving a rapid pace of new, business-oriented capabilities across our RingCentral Message Video Phone and integrated cloud contact center solutions, and we’ve meaningfully expanded our differentiated market access with our newest exclusive strategic partner, Mitel.”