Tellabs' 2Q Earnings Beats Street View

Tellabs (TLAB), a provider of mobile, optical, business and service solutions, reported second quarter earnings Monday that were ahead of expectations, driven mostly by revenue growth in several of its business segments.

The company posted net income of $67 million, or 17 cents a share, compared with $33 million, or 8 cents a share, in the same quarter last year, ahead of average analyst estimates of 13 cents, according to a Thomson Reuters poll.

The Illinois-based company’s revenue totaled $423 million, up 10% from $385 million in the year-earlier period, and beating the Street’s view of $421.74 million.

“Tellabs is achieving profitable revenue growth as our innovations help our customers succeed in growth markets such as mobile Internet,” Tellabs CEO Rob Pullen said, noting that the  company’s growth in products with IP and Ethernet technologies generated 58% of revenue.

Revenue in the broadband, transport, and services segments were also up.

The company expects third quarter revenue in the range of $425 million to $435 million, a 9% to 12% boost from the earlier-year period.