RingCentral reports Q3 adjusted EPS 95c, consensus 92c

Reports Q3 revenue $609M, consensus $602.12M. “Our strong results were driven by continued momentum with new products, in particular RingCX, and strength in our core UCaaS market,” said Vlad Shmunis, RingCentral’s (RNG) Founder, Chairman, and CEO. “Our healthy top line growth and significant margin expansion, resulted in robust free cash flow generation. This, combined with a material reduction in stock based compensation, resulted in positive GAAP operating income for the first time in our history.”