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What: Shares of Sonus Networks have popped today by upwards of 17% after the company reported first-quarter earnings.
So what: First quarter sales totaled $63.3 million, which turned into a non-GAAP net loss of $0.02 per share. Investors were expecting just $61.1 million up top and an adjusted loss of $0.03 per share, meaning the figures were a beat relative to consensus estimates. Session border controller, or SBC, revenue was up 77% to $30 million.
Now what: Sonus added 138 new SBC customers during the quarter. The company continues to progress with its previously announced restructuring initiatives. Second-quarter guidance also came in better than expected, with revenue forecast in the range of $66 million to $68 million. The market would have been happy with just $65.1 million in sales this quarter.
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The article Why Sonus Networks Shares Popped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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