RingCentral Sees FY23 Non-GAAP EPS $3.19-$3.20 vs $3.15 Est., Total Revenue $2.198B-$2.205B vs $2.2B Est.
Portfolio Pulse from Benzinga Newsdesk
RingCentral has updated its FY23 Non-GAAP EPS forecast to $3.19-$3.20, which is higher than the estimated $3.15. The company also expects its total revenue to be between $2.198B-$2.205B, closely aligning with the estimated $2.2B.
November 06, 2023 | 9:05 pm
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POSITIVE IMPACT
RingCentral's updated FY23 Non-GAAP EPS and total revenue forecasts are higher and in line with estimates respectively, which could positively impact the company's stock.
RingCentral's updated FY23 Non-GAAP EPS forecast is higher than the estimated $3.15, which indicates better-than-expected profitability. This, along with the total revenue forecast that aligns with the estimate, could boost investor confidence and positively impact the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100