Why Consolidated Communications Stock Soared Thursday

Shares of Consolidated Communications (NASDAQ: CNSL) jumped 26.3% on Thursday after the broadband provider announced better-than-expected fourth-quarter 2019 results.

Consolidated Communications' quarterly revenue fell 4% year over year to $331 million, translating to adjusted (non-GAAP) net income of roughly $670,000, or $0.01 per share, swinging from a $0.09-per-share loss in last year's fourth quarter. Most analysts were forecasting an adjusted loss of $0.02 per share on revenue of $329.7 million.

IMAGE SOURCE: GETTY IMAGES.

Continue reading

Source Fool.com