Ribbon Communications (RBBN) Tops Q2 EPS by 1c, Revenues Miss; Offers 3Q Revenue Guidance Below Consensus

Ribbon Communications (NASDAQ: RBBN) reported Q2 EPS of $0.06, $0.01 better than the analyst estimate of $0.05. Revenue for the quarter came in at $210 million versus the consensus estimate of $222.48 million.

"We are pleased with our second quarter financial results during these challenging times. Demand for our industry leading voice-over-IP real-time communications solutions was strong as service providers and enterprises continue to increase capacity to support work-from-home communication and collaboration needs. We also began to see a recovery in our Packet Optical business compared to our first quarter 2020 as customers restarted delayed projects and initiated new deployments," said Bruce McClelland, President and Chief Executive Officer of Ribbon Communications.

Mr. McClelland added, "We were especially proud of the confidence that Bharti Airtel has demonstrated in Ribbon to support the upgrade of their packet optical network that will readily support deployment of 5G enabled services."

GUIDANCE:

Ribbon Communications sees Q3 2020 EPS of $0.05-$0.07, versus the consensus of $0.07. Ribbon Communications sees Q3 2020 revenue of $210-220 million, versus the consensus of $231.26 million.

The Company's outlook is based on current indications for its business, which are subject to change. For the third quarter of 2020, the Company projects revenue of $210 million to $220 million, non-GAAP earnings per share of $0.05 to $0.07, and Adjusted EBITDA of $25 million to $29 million. The current outlook provided does not include the effect of the proposed sale of Kandy.

For earnings history and earnings-related data on Ribbon Communications (RBBN) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• KB Home (KBH) Misses Q2 EPS by 2c; Offers Outlook
• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity