Aviat Networks Inc (AVNW) said after close Wednesday that it earned $0.87 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $87.6 million, missing estimates by $44 thousand.
In the same quarter a year ago, the company earned $0.75 per share on revenue of $81.3 million.
The stock is up 15.34% to $30.52 after the report.
Aviat Networks Inc's earnings expanded faster than revenues, signaling widening profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Aviat Networks Inc a Bullish Sentiment Rank from InvestorsObserver.
Aviat Networks Inc has performed a little below average during the past few months. Before the report, Aviat Networks Inc received a Long-Term Technical Rank by InvestorsObserver of 26, putting it in the bottom half of stocks. The firm set a 52-week low on May 4, 2023 at $21.15 and set a 52-week high on February 2, 2023 at $39.8.
Aviat Networks Inc is a networking solutions provider. It designs, manufactures and sells wireless networking products, solutions, and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators around the world. The company's product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly-licensed and license-exempt (operating in license-exempt frequencies), and element and network management software. Primarily the firm's concentrations for most of the Sales and Service resources are in the United States, Western and Southern Africa, the Philippines, and the European Union.
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Aviat Networks Inc Up 15.34% To $30.52 After Earnings Beat
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