RingCentral (NYSE:RNG) witnessed its shares rise more than 2% intra-day today after the company released its third-quarter financial results. The earnings per share (EPS) for the quarter was $0.78, which was above the consensus prediction of $0.75.

The company reported a revenue increase of 10% year-over-year, reaching $558 million and surpassing the Street estimates of $554.22 million. Subscription revenue stood at $531 million, also up by 10% compared to the same period last year.

For the fourth quarter, the company expects an EPS in the range of $0.82 to $0.83, compared to the Street estimate of $0.82. Revenue projections for Q4 are set between $566.5 million and $573.5 million, with the Street expectations sitting at $570.95 million.

Looking ahead, RingCentral forecasts a full-year EPS for 2023 to be between $3.19 and $3.20, which is ahead of the consensus projections of $3.15. Revenue expectations have been adjusted to a range of $2.198 billion to $2.205 billion, which is comparable to the consensus forecast of $2.2 billion.

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