ADTRAN, Inc. (ADTN) Tops Q3 EPS by 5c

October 19, 2016 6:11 AM EDT

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Late Tuesday, ADTRAN, Inc. (NASDAQ: ADTN) reported Q3 EPS of $0.26, $0.05 better than the analyst estimate of $0.21. Revenue for the quarter came in at $168.9 million versus the consensus estimate of $162.53 million.

ADTRAN Chief Executive Officer Tom Stanton stated, “Our revenue performance for the quarter exceeded expectations with total revenue increasing 7% over the same period last year. I am particularly pleased to see our international business grow 42 percent over the previous quarter and 7 percent year-over-year, driven by stronger broadband access sales in Europe. I am also pleased with the continued growth in our services business which increased 35 percent over the previous quarter and grew 63 percent year-over-year as we execute on our leading market position in CAF II and vectoring solutions and services. We continue to believe that ADTRAN's ability to help service providers grow revenue, reduce costs, accelerate buildout and transition to a software-defined access network is proving to be a catalyst for change within the industry."

For earnings history and earnings-related data on ADTRAN, Inc. (ADTN) click here.

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