Why CommScope Stock Blasted 21% Higher on Monday
CommScope (NASDAQ: COMM), a provider of communications technology equipment, saw a big leap in its share price on the first trading day of the week. The company's stock soared more than 20% today following the release of preliminary quarterly results. That contrasted very well with the generally flat performance of the S&P 500 index.
For its second quarter, CommScope is estimating that net sales will come in at $1.39 billion, with income from continuing operations landing at $75 million. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected to be $302 million. The company did not provide any net income figures.
Those numbers represent quite a change from the same quarter of 2023, when net sales topped $1.9 billion while adjusted EBITDA was just under $260 million.
Source Fool.com
