Why Ribbon Communications Stock Is Soaring Today
Ribbon Communications (NASDAQ: RBBN) stock is surging Thursday's trading. The communications and networking specialist's share price was up 7% as of 2:30 p.m. ET.
Ribbon published its third-quarter results after the market closed yesterday, and both sales and earnings for the period came in below the average analyst Wall Street target. But the company's forward guidance was encouraging enough to offset those shortfalls, and the stock is making big gains on the heels of the recent earnings report.
Ribbon reported non-GAAP (adjusted) earnings per share of $0.05 on sales of $210.24 million, falling short of the average analyst estimate's call for adjusted per-share earnings of $0.05 on sales of roughly $212.1 million.
Source Fool.com
