Stock Track | Ribbon Communications Soars on Robust Cloud Business Growth

Stock Track

Oct 24, 2024

Shares of Ribbon Communications Inc. (RBBN) surged 5.54% on Wednesday after the company reported strong third-quarter results, driven by impressive growth in its Cloud and Edge business segment.

The company's Cloud and Edge revenue climbed 11% year-over-year and 16% quarter-over-quarter to $128 million, fueled by increasing demand for network modernization and unified communications solutions. Notably, the Cloud and Edge non-GAAP gross margin reached near an all-time high of 68%, reflecting the segment's robust profitability.

Ribbon's overall revenue grew 3.5% year-over-year to $210 million, while non-GAAP gross margin came in at 55%, exceeding expectations and reaching the high end of the company's guidance. The strong performance in the Cloud and Edge business offset weakness in the IP Optical segment, where revenue declined 6% due to the suspension of product sales to Eastern Europe.

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(RBBN) surged 5.54% on Wednesday after the company reported strong third-quarter results, driven by impressive growth in its Cloud and Edge business segment.</p>\n\n<p>The company's Cloud and Edge revenue climbed 11% year-over-year and 16% quarter-over-quarter to $128 million, fueled by increasing demand for network modernization and unified communications solutions. Notably, the Cloud and Edge non-GAAP gross margin reached near an all-time high of 68%, reflecting the segment's robust profitability.</p>\n\n<p>Ribbon's overall revenue grew 3.5% year-over-year to $210 million, while non-GAAP gross margin came in at 55%, exceeding expectations and reaching the high end of the company's guidance. The strong performance in the Cloud and Edge business offset weakness in the IP Optical segment, where revenue declined 6% due to the suspension of product sales to Eastern Europe.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RBBN","symbol_name":"Ribbon Communications Inc.","start_time":0,"source_url":"","article_id":"1124614354","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1124614354","pubTimestamp":1729777204,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Ribbon Communications Inc.  surged 5.54% on Wednesday after the company reported strong third-quarter results, driven by impressive growth in its Cloud and Edge business segment.The company's Cloud and Edge revenue climbed 11% year-over-year and 16% quarter-over-quarter to $128 million, fueled by increasing demand for network modernization and unified communications solutions. 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