RingCentral, Inc. (NYSE:) shares rose around 3% after-hours following the company’s reported Q1 results, with EPS coming in at $0.39, compared to the consensus estimate of $0.34.

The revenue grew 33% to $468million year-over-year, as opposed to $458.67 million. This is compared with the consensus estimate. The revenue from subscriptions increased 35% annually to $440 millions. Annualized Exit Monthly Recurring Subscribers (ARR), reached $1.9 billion in 2018, up 35% from the year before.

It expects Q2/22 to have EPS between $0.40 and $0.0.41, as opposed to the consensus $0.38. The revenue range is $475.5-479.5 Million, in comparison to the consensus $477.2million.

The company anticipates full-year 2022 earnings of $1.83-1.877, as opposed to $1.71 billion and $1.99-2.205 billion revenue, respectively, to compare to $2.01 billion.

Sonalee Paraekh was appointed the company’s Chief Financial Officer, while Mo Katibeh (the RingCentral COO) has been named the president of the company.

By Davit Kirakosyan