Why Ceragon Networks Stock Popped Monday
Shares of Ceragon Networks (NASDAQ: CRNT) popped today, up by 7% as of 12:40 p.m. EDT, after the company reported second-quarter earnings. The networking technology company also announced a new deal with a wireless carrier in Africa.
Revenue in the second quarter came in at $62.4 million, topping the consensus estimate of $57.9 million in sales. That led to an adjusted net loss per share of $0.06, slightly less red ink than the $0.07 per share in adjusted losses that analysts were modeling for.
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