ADTRAN Posts 0.6% Revenue Growth, Sets Near-Flat Q4 Outlook

ADTRAN Holdings Inc. posted 0.6% year-over-year revenue growth in the third quarter, but sales missed its prior guidance midpoint and analyst forecasts as non-GAAP earnings per share beat expectations. Revenue for the quarter ended Sept. 30 was $281.167 million, up from $279.435 million in the same quarter last year. That placed sales about $3.8 million below the $285 million midpoint of ADTRAN’s previous $275 million to $295 million forecast. Revenue also came in below analyst expectations. On a GAAP basis, diluted loss per share was 10 cents, compared with a 12-cent loss a year earlier.

Source: TokenPost