This update expands the previous range of $3.19 to $3.25 per share.įollowing the announcement, RingCentral shares experienced an 11% decline in after-hours trading. However, the company adjusted its non-GAAP earnings per share forecast to a range of $3.11 to $3.25, reflecting higher-than-expected interest expense. RingCentral reiterated its full-year revenue guidance of $2.187 billion to $2.205 billion. Non-GAAP profits stood at 83 cents per share, higher than the Wall Street consensus forecast of 75 cents per share. Subscription revenue amounted to $514 million, up 11%, surpassing the high end of the company's guidance range of $511 million to $513 million. The company reported revenue of $539 million, representing an 11% increase compared to the previous year, exceeding its guidance range of $535 million to $537 million. RingCentral's financial results for the June quarter were also released on Monday. However, Katibeh will continue to contribute to the company as a "special advisor." Katibeh, who joined RingCentral in January 2022, previously held leadership roles at AT&T as the chief product officer and chief marketing officer for AT&T Business. In addition to Shmunis, President and COO Mo Katibeh will also be stepping down from his position. Prior to joining HP Enterprise, he held the position of CFO at Sprint. Robbiati, who has served as the chief financial officer at Hewlett Packard Enterprise (HPE) since 2022, has also been a member of the RingCentral board since December 2022. The board of RingCentral has appointed Tarek Robbiati as the new CEO. However, it is important for investors to exercise patience and adopt a long-term perspective, as the crypto market is dynamic and always evolving. If Stellar Lumens gains traction as an efficient payment system in developing nations, it could further contribute to its bullish outlook. Even at a more ambitious growth rate of 30%, this goal might be achievable in about 7 to 8 years. If the token can maintain an average growth rate of 15% per year, it could reach the $1 milestone in approximately 11 to 12 years. While the journey to reach $1 may not be rapid, due to cryptocurrency market volatility, Stellar Lumens exhibits the potential to achieve an eight-fold return from its current value. This decentralized approach grants stakeholders the power to shape the project's future direction through voting and technology adoption. With a fully decentralized management structure, Stellar Lumens operates under a public community, aligning with the principles of transparency and inclusivity. Stellar Lumens differentiates itself from Ripple by positioning as a digital finance Robin Hood, aiming to make financial services accessible to the unbanked population. XLM, the native cryptocurrency of Stellar Lumens, has the potential for significant growth and a bullish outlook in the future.
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