RingCentral Raises FY24 Total Revenue Outlook From $2.37B-$2.395B To $2.379B-$2.399B (Est $2.384B), Adj EPS Outlook From $3.50-$3.58 To $3.59-$3.67 (Est $3.55)
Portfolio Pulse from Benzinga Newsdesk
RingCentral has updated its FY24 revenue and adjusted EPS outlook, raising both. The total revenue forecast has been increased from $2.37B-$2.395B to $2.379B-$2.399B, slightly above the estimated $2.384B. The adjusted EPS outlook has also been raised from $3.50-$3.58 to $3.59-$3.67, surpassing the estimated $3.55.
May 07, 2024 | 8:52 pm
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RingCentral has raised its FY24 revenue and adjusted EPS forecasts, indicating stronger than expected financial performance.
Raising both revenue and EPS outlooks suggests that RingCentral is experiencing stronger financial health and growth prospects than previously anticipated. This positive adjustment is likely to instill investor confidence and could lead to a short-term uptick in RNG's stock price, as it surpasses analyst expectations.
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