Why Ribbon Communications Stock Is Soaring Today [Yahoo! Finance]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Yahoo! Finance
The provider of hardware and software solutions for secure communication networks reported modest earnings on Tuesday evening, but also unveiled an impressive contract with Verizon Communications (NYSE: VZ) amid generally improving market trends. A big Verizon deal helped investors forgive weak quarterly results Ribbon's results fell short of analyst expectations in the first quarter of 2024. Yes, that's an unusual setup for a huge stock-price jump. Your average analyst had expected the small-cap company to report break-even earnings on sales near $185 million. In reality, the adjusted bottom-line loss narrowed from $0.02 per diluted share in the year-ago period to $0.01 in the most recent quarter. Revenue fell 3.5% year over year to $180 million. So the financial results weren't impressive, but Ribbon had other tricks up its sleeve. First and foremost, it also announced a multiyear contract with Verizon. The company will help the telecom replace outdated call-routing and n
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VZ
Earnings
- 4/22/24 - Beat
VZ
Sec Filings
- 4/30/24 - Form DEFA14A
- 4/29/24 - Form 424B2
- 4/29/24 - Form 4
- VZ's page on the SEC website