RingCentral Inc (NYSE:RNG) is trading sharply higher on Friday after the AI‑driven communications company delivered a strong fourth‑quarter report, issued upbeat guidance, announced its first‑ever quarterly dividend and expanded its share buyback program.
- RingCentral shares are testing new highs. Why did RNG hit a new high?
RingCentral posted fourth‑quarter earnings of $1.18 per share, topping the consensus estimate of $1.14 and rising 20% from the 98 cents reported a year ago. Revenue came in at $644 million, slightly above expectations and up 4.8% year‑over‑year.
For the first-quarter, the company guided for adjusted EPS of $1.16 to $1.19, ahead of the $1.10 analysts were expecting, and projected revenue of $640 million to $645 million, roughly in line with …