BELMONT, Calif. (AP) _ RingCentral Inc. (RNG) on Tuesday reported a loss of $1.8 million in its fourth quarter.
On a per-share basis, the Belmont, California-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, came to 29 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The cloud-based phone system provider for small businesses posted revenue of $334.5 million in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $316.9 million.
For the year, the company reported that its loss widened to $83 million, or 94 cents per share. Revenue was reported as $1.18 billion.
For the current quarter ending in April, RingCentral expects its per-share earnings to range from 24 cents to 25 cents.
The company said it expects revenue in the range of $337 million to $340 million for the fiscal first quarter.
RingCentral expects full-year earnings in the range of $1.20 to $1.24 per share, with revenue ranging from $1.48 billion to $1.49 billion.
RingCentral shares have risen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $437.02, a rise of 80% in the last 12 months.