RingCentral Stock Soars on Partnership With Mitel, Strong Earnings

2 years ago 272

Updated Nov. 10, 2021 8:29 americium ET / Original Nov. 9, 2021 5:27 p.m. ET

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RingCentral shares were trading sharply higher precocious aft the cloud-based communications institution posted stronger-than-expected results and unveiled a large concern with the Ottawa-based concern communications services institution Mitel.

For the 3rd quarter, RingCentral (ticker: RNG) posted gross of $415 million, up 47% from a twelvemonth ago, topping the Street statement forecast of $393.4 million. Subscription gross was $385 million, up 38%. Average annualized recurring gross was $1.64 billion, up 39%. 

On...


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