RingCentral, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 07, 2024 at 09:05 pm
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RingCentral, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 584.21 million compared to USD 533.69 million a year ago. Net loss was USD 28.49 million compared to USD 54.4 million a year ago.
Basic loss per share from continuing operations was USD 0.31 compared to USD 0.57 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to USD 0.57 a year ago.
RingCentral, Inc. is a provider of global enterprise cloud communications, video meetings, collaboration, and contact center software-as-a-service (SaaS) 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 allows for communication across multiple modes, including high-definition (HD) voice, video, messaging and collaboration, conferencing, online meetings and fax. It offers three products in its portfolio, namely RingCentral MVP, a unified Communications as a Service (UCaaS) platform, including team messaging, video meetings, and a cloud phone system; Customer engagement solutions, including RingCentral Contact Center, RingCentral Engage Digital and Voice; and RingCentral Video, its video meeting solution with team messaging that enables smart video meetings.