06:10 AM EDT, 05/08/2024 (MT Newswires) -- RingCentral ( RNG ) reported Q1 non-GAAP earnings late Tuesday of $0.87 per diluted share, up from $0.76 a year earlier.

Analysts polled by Capital IQ expected $0.80.

Revenue for the quarter ended March 31 was $584.2 million, up from $533.7 million a year earlier.

Analysts surveyed by Capital IQ expected $578.2 million.

RingCentral ( RNG ) said it expects Q2 non-GAAP EPS of $0.87 to $0.88 per diluted share. Analysts polled by Capital IQ expect $0.87.

Revenue for the quarter is projected to be $584.5 million to $587.5 million. Analysts surveyed by Capital IQ expect $585.6 million.

The company said it has raised its 2024 non-GAAP EPS guidance to $3.59 to $3.67, from $3.50 to $3.58 previously. Analysts polled by Capital IQ expect $3.62.

Revenue for the year is now projected to be $2.38 billion to $2.4 billion, the company said. That compares with the company's prior guidance of $2.37 billion to $2.40 billion. Analysts surveyed by Capital IQ are looking for $2.39 billion.

RingCentral's ( RNG ) shares were up nearly 14% in recent Wednesday premarket activity.

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