Shares of ADTRAN Holdings, Inc. (ADTN) are up 10% on Tuesday after the company reported that its first-quarter earnings and revenue beat the street estimates, despite a wider loss.
ADTN is trading on the Nasdaq at $5.20, up 10.40% or $0.49 per share. It has traded between $4.34 and $11.02 in the past 52-week period.
The company reported a net loss of $324.6 million or $4.12 per share for the quarter, compared to last year's loss of $40.1 million or $0.51 per share.
On an adjusted basis, it reported a loss of $1.7 million or $0.02 per share, compared to the loss of $10.6 million or $0.14 per share the prior year.
Analysts on average had expected a loss of $0.11 per share, according to figures compiled by Thomson Reuters.
Revenue decreased to $226.2 million from $323.9 million the previous year. It beat the consensus estimate of $224.02 million.
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