RBBN - Ribbon Communications higher after raising Q4 guidance

Ribbon Communications (RBBN) raises Q4 revenues guidance to $243-245M (prior: $235-245M) vs. a consensus of 237.45M.Adjusted EBITDA of $49M vs. a prior range of $36-$40M."As we look forward in 2021, we expect to build on this momentum as our strategy to grow IP Optical and enterprise sales delivers both revenue and adjusted earnings growth expected to be approximately 10% for the full year 2021. With our strong current cash position, we have increased flexibility to reduce our ongoing interest expense. We look forward to discussing further details on our fourth quarter 2020 results and full year performance, and 2021 outlook during our conference call on February 17th." says Bruce McClelland, CEO.The Company will report financial results for Q4 and FY 2020 after the market close on Feb. 17.([[RBBN]] +1.3%)Press Release

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Ribbon Communications higher after raising Q4 guidance