RingCentral Stock Soars on Partnership With Mitel, Strong Earnings

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...