Stock Track | Adtran Soars on Strong Q3 Results, Upbeat Outlook for Fiber Growth

Stock Track11-08

Shares of Adtran (ADTN) surged 5.96% in pre-market trading on November 8, 2024, after the telecommunications equipment company reported robust third-quarter results and provided an optimistic outlook driven by growing demand for fiber broadband deployments.

In its Q3 2024 earnings report, Adtran posted a sequential increase in revenue to $227.7 million, alongside improvements in gross and operating margins. The company's Network Solutions segment, which accounts for 80% of total revenues, and its Subscriber Solutions segment, which comprises 40% of revenues, both saw solid growth during the quarter.

Adtran's strong performance was fueled by a 10% sequential increase in large service provider sales, particularly in the EMEA and APAC regions. The company also added 13 new carrier customers for its optical networking solutions, reflecting the growing demand for fiber infrastructure.

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