Ceragon Networks' Outlook Soars As Anticipated Siklu Deal Catalyzes Revenue Surge
Portfolio Pulse from Anusuya Lahiri
Ceragon Networks Ltd (NASDAQ: CRNT) reported a Q3 FY23 revenue increase of 10.9% YoY to $87.3 million, beating the consensus of $84.5 million. Adjusted EPS of $0.06 also beat the consensus of $0.03. The company saw strong bookings in India and North America, and added 20 new customers in this segment since the beginning of the year. The pending acquisition of Siklu is expected to accelerate this trend. Ceragon raised its FY23 revenue guidance to $338 million - $346 million. However, CRNT shares were down 3.28% to $1.77 at last check.
November 06, 2023 | 3:44 pm
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Ceragon Networks reported strong Q3 FY23 results and raised its FY23 revenue guidance. The pending Siklu acquisition is expected to boost growth. Despite the positive news, CRNT shares were down 3.28%.
Ceragon Networks reported strong Q3 FY23 results, beating consensus estimates for both revenue and EPS. The company also raised its FY23 revenue guidance and expects the pending Siklu acquisition to accelerate growth. Despite these positive developments, CRNT shares were down 3.28%, suggesting that the market may have already priced in the positive news or there may be other factors at play affecting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100