RBBN - Why Ribbon Communications Stock Soared Today
Shares of Ribbon Communications (NASDAQ: RBBN) were up 21.6% as of 11:49 a.m. ET on Thursday after the company reported better-than-expected earnings results. Revenue came in above management's guidance, and the 2023 outlook points to another year of growth.
After the post-earnings surge, the stock is up 65% year to date.
Ribbon is a leading supplier of communications technology and IP optical solutions to telecom providers and other enterprises. Verizon Communications accounted for 16% of its total revenue in 2021.
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Why Ribbon Communications Stock Soared Today