Ceragon Networks Earnings: Here’s Why the Stock is Up Now
Ceragon Networks Ltd. (NASDAQ:CRNT) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.63%.
Ceragon Networks Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 24.32% to $90.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ceragon Networks Ltd. reported adjusted EPS loss of $0.15 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It beat the average revenue estimate of $86.24 million.
Quoting Management: “We see signs of improvement in the business environment and our bookings increased significantly in the second quarter, as expected,” said Ira Palti, President and CEO of Ceragon. “We are particularly pleased with our expanding penetration of large carriers, mainly in Latin America and Africa.”
Key Stats (on next page)…
Revenue was the same at $90.1 million as the previous quarter. EPS increased to $-0.15 in the quarter versus EPS of $-0.16 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.12 to a loss $0.11. For the current year, the average estimate has moved up from a loss of $0.48 to a loss of $0.46 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)