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Shares in Ceragon Networks rise after 3Q earnings beat Street on surging revenue

CEO Ira Palti said the Tel Aviv-based provider of wireless backhaul services posted revenues above the upper end of its quarterly run rate
A generic 5G wireless representation
Ceragon provides high-capacity 4G and 5G wireless backhaul solutions with minimal use of spectrum, power and other resources

Shares in Ceragon Networks Ltd (NASDAQ:CRNT) climbed Monday after the provider of wireless backhaul services posted third quarter earnings that beat Wall Street analyst estimates on strong revenue.

For the quarter ended September 2018, the Tel Aviv, Israel-based company posted earnings of $0.07 per share on revenue of $86.5 million. The consensus earnings estimate was $0.04 per share on revenue of $82.6 million. Revenue grew 13.9% on a year-over-year basis.

Shares in the company shot up 12.2% to $3.88.

Ceragon provides wireless backhaul solutions that help cellular operators and other wireless service providers deliver voice and data services. Its wireless backhaul solutions use microwave radio technology to transfer telecom traffic between base stations, and the core of the service provider's network.

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"We are pleased to report an excellent third quarter, with revenues above the upper end of our quarterly run rate and net income growing both sequentially and versus third quarter of 2017," said Ceragon Networks CEO Ira Palti. "We are achieving our goal of growing net income and delivering strong cash flow, even as we continue to invest aggressively in our next generation 5G solutions.”

Caragon provides high-capacity 4G and 5G wireless backhaul solutions with minimal use of spectrum, power and other resources. It delivers a range of professional services that ensure both network modernization and efficient network rollout.

The company's solutions are used by more than 460 service providers, and hundreds of private network owners in over 130 countries.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 



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