Ribbon Communications reports Q3 EPS 5c, consensus 6c

Reports Q3 revenue $210M, consensus $212.13M. “I am very pleased with our financial performance in the third quarter with overall sales growing 3.5% year over year, led by strong growth in our Cloud & Edge secure communications business. Gross Margin exceeded expectations with a positive mix of product sales and good execution from our Professional Services team, resulting in profitability at the high end of our guidance range,” stated CEO Bruce McClelland. “We expect this momentum to continue into the fourth quarter and into 2025 as we continue to ramp voice modernization programs with Verizon and multiple other carriers, execute on new awards with U.S. Federal Defense agencies, and to grow the U.S. rural broadband segment. Our guidance for the fourth quarter projects year-over-year sales growth of 8% at the midpoint, reflecting all of these trends along with seasonal strength in Enterprise.”