RingCentral Q3 2024 Subscriptions Revenue $572M-$575M, Total Revenue $600.5M-$603.5M, Both Up 8% YoY; GAAP Operating Margin -1.3% --0.7%; Non-GAAP Operating Margin 21.0%; Non-GAAP Tax Rate 22.5%; Non-GAAP EPS $0.92 - $0.93; Share-Based Compensation $96M - $98M; Amortization Of Acquired Intangibles $35M; Restructuring Costs $0-$1M
Portfolio Pulse from Benzinga Newsdesk
RingCentral reported Q3 2024 financial results with subscription revenue of $572M-$575M and total revenue of $600.5M-$603.5M, both up 8% YoY. The GAAP operating margin is between -1.3% and -0.7%, while the non-GAAP operating margin is 21.0%. The non-GAAP EPS is $0.92-$0.93.
August 01, 2024 | 8:18 pm
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RingCentral's Q3 2024 financial results show an 8% YoY increase in both subscription and total revenue. The non-GAAP operating margin is strong at 21.0%, and the non-GAAP EPS is $0.92-$0.93.
The 8% YoY increase in both subscription and total revenue is a positive indicator of growth. The strong non-GAAP operating margin of 21.0% and non-GAAP EPS of $0.92-$0.93 suggest solid financial performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100