Here's How RingCentral Shares Rose 15% Last Month
Shares of RingCentral (NYSE: RNG) gained 14.7% in February 2020, according to data from S&P Global Market Intelligence. The provider of cloud-based solutions for communications and collaboration achieved this in a month when the S&P 500 market index fell 8.4%, and the big jump hinged on RingCentral's impressive fourth-quarter earnings report.
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RingCentral's adjusted fourth-quarter earnings fell 4% year over year to $0.22 per share. Revenue rose by 34%, landing at $253 million. Your average analyst would have settled for earnings near $0.21 per share on sales of approximately $239 million. Looking ahead, management also set their guidance for the next quarter and for fiscal year 2020 slightly ahead of current analyst projections.
Source Fool.com
