- ADTRAN Holdings, Inc (NASDAQ: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.
Trump Endorses ‘ERIC’ For Missouri Senate Race, But Will The Real Candidate Please Stand Up?
Donald Trump has spurred confusion in his signature style with his endorsement for 'ERIC' in Missouri’s GOP Senate primary, with two rival candidates with the same first name laying claim to the former U.S. President's statement of support.
