Why Sonus Networks, Inc. Stock Jumped on Friday
Shares of network communications and network security company Sonus (NASDAQ: SONS) rose as much as 12.3% on Friday after the company released preliminary results for its third quarter. The stock is up 5.5% as of 12:15 EDT.
The stock's move likely reflects the company's significant outperformance relative to its guidance for the quarter. Preliminary revenue and non-GAAP earnings per share (EPS) were $74.5 million and between $0.25 and $0.26, respectively. Management had guided for revenue to be in the range of $70 million to $72 million and non-GAAP EPS to be between $0.17 and $0.20.
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Source: Fool.com
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