ADTRAN Earnings: Here’s Why the Stock is Rising Now
ADTRAN Inc. (NASDAQ:ADTN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.32%.
ADTRAN Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.36% to $0.21 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Decreased 11.85% to $162.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ADTRAN Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $154.16 million.
Quoting Management: ADTRAN Chief Executive Officer Tom Stanton stated, “Continuing improvement in our Internetworking and Broadband Access product areas led revenues which exceeded estimates for the quarter. During the quarter we benefited from market share gains, the geographic expansion we began last year and an improved spending environment.”
Key Stats (on next page)…