RingCentral Sees Q3 Adj. EPS $0.75-$0.78 vs $0.82 Est., Total Revenue $552M-$556M vs $553.71M Est.
Portfolio Pulse from Benzinga Newsdesk
RingCentral has projected its Q3 adjusted EPS to be between $0.75 and $0.78, which is lower than the estimated $0.82. The company also expects its total revenue to be between $552M and $556M, roughly in line with the estimated $553.71M.
August 07, 2023 | 8:04 pm
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RingCentral's lower than expected Q3 adjusted EPS may negatively impact its stock price, while its total revenue forecast being in line with estimates may mitigate some of this impact.
RingCentral's lower than expected Q3 adjusted EPS indicates potential underperformance, which could lead to a decrease in its stock price. However, its total revenue forecast being in line with estimates suggests that the company's overall financial performance may not be as bad as the EPS figure suggests, which could limit the negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100