- Adtran ( NASDAQ: ADTN ) stock rose 6.9% postmarket on Monday after the telecommunication equipment provider reported upbeat preliminary Q3 results , helped by the addition of ADVA Optical Networking.
- The company reported preliminary Q3 revenue of $340.7M, well above consensus estimate of $330.47M.
- Preliminary Q3 adj. operating income is $20.9M vs. adj. operating loss of $2.6M in Q3 2021 .
- Adtran ( ADTN ) reported preliminary Q3 gross margin of 28.8% and adj. gross margin of 38.1%.
- "In the first quarter of our combination with ADVA , we experienced strong demand in the combined company resulting in revenue and adjusted operating income that is expected to exceed market expectations," said Adtran ( ADTN ) CEO Tom Stanton.
- Adtran ( ADTN ) will issue its Q3 results on Nov. 8.
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Adtran stock rises over 6% aftermarket on upbeat preliminary Q3 results