Shares of Ribbon Communications (NASDAQ: RBBN) briefly popped this morning, rising as much as 19% in morning trading, after the company reported second-quarter earnings. The stock has since given most of those gains back and is up just 1% as of 12:50 p.m. EDT.
Revenue in the second quarter increased 45% to $210 million, with approximately $64 million of those sales attributable to the recent acquisition of ECI Telecom, which closed in early March. That resulted in adjusted earnings per share of $0.06, compared to the $0.05 per share in adjusted profits that analysts were expecting.
Image source: Ribbon Communications.