RingCentral Posts Positive Quarter Thanks to "Strong Traction" in AI Products
#ringcentral has posted a positive Q3 2023 quarter, affirmed by what it described as “strong traction” in its AI-powered products and services.
RingCentral outlined that its new #ai solutions, RingCX and RingSense, have increased in popularity with customers this past quarter, helping boost total revenue and subscription revenue 10 percent year over year to $558 million and $531 million, respectively.
RingCentral’s ambition to integrate AI across its portfolio — including its #ucaas products, such as its Cloud PBX MVP — was highlighted in the earnings call, which could potentially see conversational intelligence capabilities introduced to UCaaS products.
The acquisition of hybrid events business Hopin earlier this year also contributes to RingCentral’s plan to diversify into a multiproduct company, with Hopin being renamed “RingCentral Events”.
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