Adtran (ADTN) stock surged 13.1% in premarket trading on Thursday, following the company's better-than-expected fourth quarter 2024 earnings results.
The networking equipment maker reported adjusted earnings per share of $0.00 for Q4 2024, beating analysts' expectations of a $0.03 loss. Revenue rose 7.7% year-over-year to $242.85 million, exceeding the consensus estimate of $237.95 million.
The strong quarterly performance was driven by improved market conditions, including higher spending from service providers, lower customer inventory levels, and a continuing shift away from high-risk vendors. Adtran's Chairman and CEO Tom Stanton noted that the company made progress during the quarter, with higher sequential and year-over-year revenue and operating margin, supported by growth across geographies, product lines, and customer base expansion.
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