ADTRAN Shares Pop On Upbeat Preliminary Q3 Numbers

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.

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