Ceragon Networks Ltd. ( (CRNT) ) has released its Q3 earnings. Here is a breakdown of the information Ceragon Networks Ltd. presented to its investors.
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Ceragon Networks Ltd. is a prominent global provider of end-to-end wireless connectivity solutions, offering high-capacity, reliable, and fast-to-deploy wireless communication networks across various sectors, including utilities, public safety, government, and energy companies.
Ceragon Networks Ltd. recently reported a 17.7% increase in quarterly revenue, reaching $102.7 million in the third quarter of 2024, with a GAAP EPS of $0.14 per share. The company emphasized its strong performance in key markets such as India and North America, showcasing its commitment to revenue diversification and consistent profitability.
Key financial highlights for the quarter include an operating income of $14.6 million on a GAAP basis and a net income of $12.2 million. The company also achieved notable success in India with record quarterly revenues and in North America with sustained revenue exceeding $20 million for seven consecutive quarters, highlighting the successful completion of significant projects such as the City of Cincinnati.
Looking ahead, Ceragon’s management remains confident in its growth trajectory, reiterating its full-year 2024 outlook with an expected revenue range of $390 million to $400 million, representing a growth of 12% to 15% compared to 2023. The company anticipates continued profitability and positive free cash flow, driven by a robust pipeline of opportunities in private networks and sustained demand in its core markets.
