RBBN - Here's Why Ribbon Communications Stock Hit a 52-Week Low Today
Shares of Ribbon Communications (NASDAQ: RBBN) plummeted to 52-week lows today after the company reported financial results for the fourth quarter of 2021. The only time the stock has been lower in the past 10 years was during the stock market crash of 2020. As of noon ET, Ribbon Communications was down 20% for the session.
For Q4, Ribbon Communications generated revenue of $231 million and generated adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) of $26 million. Interestingly, the company had already announced preliminary Q4 results back in January. And the actual results released yesterday afternoon were in line with the preliminary numbers.
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Here's Why Ribbon Communications Stock Hit a 52-Week Low Today