WFH Drove RingCentral to 30% Q3 Revenue Growth

Cloud communication is becoming a “core tenet of business continuity” with a “substantial part” of the global workforce working from home, said RingCentral CEO Vlad Shmunis on a Q3 call Monday. Strong RingCentral adoption continued, “as our customers are going through their digital transformation journeys,” he said. Revenue rose 30% year over year to $304 million, including a 33% subscription revenue increase to $280 million. The company raised its 2020 subscription revenue growth guidance to 31% from 28%. The company added Mignon Clyburn to its board (see personals section, this issue).