Investing.com - ADTRAN reported on Tuesday third quarter earnings that missed analysts' forecasts and revenue that topped expectations.
ADTRAN announced earnings per share of $0.11 on revenue of $340.71M. Analysts polled by Investing.com anticipated EPS of $0.17 on revenue of $329.99M.
ADTRAN shares are down 9% from the beginning of the year and are trading at $20.65 , down-from-52-week-high.
ADTRAN follows other major Information Technology sector earnings this month
ADTRAN's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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