Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.
RingCentral Inc.’s stock jumped about 10% in after-hours trading Monday after it reported a narrowing quarterly loss, results that beat analysts’ forecasts on the top- and bottom-lines, and sales projections that were raised.
Total revenue improved nearly 10% to $558.2 million from $509 million a year ago. Subscription sales were $531 million, or about 95% of totalAnalysts polled by FactSet had forecast on average adjusted earnings of 75 cents a share and revenue of $554 million. Robbiati credited his predecessor for the quarterly performance and vowed to “infuse AI into everything we do.”
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