RingCentral Sees FY24 Adj. EPS $3.50-$3.58 Vs $3.51 Est.; Revenue $2.260B-$2.285B Vs $2.40B Est.
Portfolio Pulse from Benzinga Newsdesk
RingCentral projects its FY24 adjusted EPS to be between $3.50 and $3.58, closely aligning with the $3.51 estimate. However, its revenue forecast of $2.260B to $2.285B falls short of the expected $2.40B.
February 20, 2024 | 9:08 pm
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RingCentral's FY24 earnings per share projection matches analyst expectations, but its revenue forecast is below the anticipated $2.40B.
While RingCentral's adjusted EPS forecast for FY24 is in line with analyst estimates, indicating operational efficiency and profitability, the lower-than-expected revenue forecast could signal potential challenges in growth or market competition, likely leading to a negative short-term impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100