ADTRAN reported first quarter revenue of $323.9 million. Net loss inclusive of the non-controlling interest for the first quarter of 2023 was $40.5 million. Net loss attributable to the company for the first quarter of 2023 was $34.5 million and diluted loss per share attributable to the company was $0.44.
ADTRAN Holdings Chairman and Chief Executive Officer Tom Stanton stated, “As mentioned in our pre-release, the results of the quarter were impacted by slowing sales predominately in our Subscriber Solutions category. Although we expect customer inventory management efforts to continue to affect our near-term results, the underlying demand to upgrade and deploy fiber networks is at an unprecedented high and we are ideally positioned to capitalize on this opportunity.”
- Network Solutions revenue amounted to $282 million
- Services and Support revenue amounted to $41 million
