Ribbon Communications reports Q3 adjusted EPS 4c, consensus 6c

Reports Q3 revenue $215M, consensus $220.04M. “Ribbon delivered solid results in the third quarter, with sales growing 2% year over year, an increase of 6% year to date. IP Optical Networks sales grew 11% year over year in the quarter with strong growth in EMEA and India. Cloud & Edge sales year to date have increased more than 8% with sales to Global Service Providers continuing to grow. The recent U.S. Federal Government shut down had a minor impact on our Cloud & Edge third quarter results and creates a near-term timing issue on new purchases, but related voice modernization projects are continuing to progress,” stated Bruce McClelland, President and Chief Executive Officer of Ribbon Communications (RBBN). “More broadly, we believe that our momentum remains strong as evidenced by the expanding number of customers initiating Network Transformation programs and continued growth in our IP Optical Networks segment.”