ADTRAN Shares Pop On Upbeat Preliminary Q3 Numbers

  • ADTRAN Holdings, Inc ADTN shared specific preliminary financial results for the third quarter that ended September 30, 2022. 
  • ADTRAN expects revenues of $340.71 million, above the consensus of $330.4 million.
  • ADTRAN sees a non-GAAP gross margin of 38.1% and a non-GAAP operating income of $20.9 million
  • ADTRAN reported second-quarter revenue growth of 20.1% year-on-year to $172.04 million, beating the consensus of $170.9 million.
  • EPS of $0.19 beat the consensus of $0.11.
  • ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, "We had a strong Q2 fueled by the growing demand for our fiber broadband platforms. Customer demand continues to grow at record levels. We increased revenue both quarter-over-quarter and year-over-year in our domestic and international markets, and also throughout our customer segments. This provides continued momentum as we move forward with our integration of ADVA."
  • Price Action: ADTN shares traded higher by 13.3% at $21.88 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapMoversTechTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!