RingCentral Sees Q1 2024 Adj. EPS $0.79-$0.80 Vs $0.82 Est.; Revenue $575M-$580M Vs $581.486M Est.
Portfolio Pulse from Benzinga Newsdesk
RingCentral projects its Q1 2024 adjusted EPS to be between $0.79 and $0.80, slightly below the estimated $0.82. The company also forecasts revenue to be in the range of $575 million to $580 million, which is below the expected $581.486 million.

February 20, 2024 | 9:09 pm
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NEGATIVE IMPACT
RingCentral's Q1 2024 earnings and revenue projections fall short of analyst expectations, with adjusted EPS and revenue below estimates.
When a company's financial projections, especially for earnings per share (EPS) and revenue, fall short of analyst estimates, it often leads to negative investor sentiment in the short term. This can result in a decrease in stock price as the market adjusts to the new, lower-than-expected growth outlook. For RingCentral, the miss on both key financial metrics suggests potential challenges ahead, possibly affecting investor confidence and stock performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100