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Why Is Telecommunications Firm Comtech Stock Surging On Tuesday?

Comtech Telecommunications Corp (NASDAQ:CMTL) shares are trading higher after the company reported third-quarter FY24 earnings and announced a fresh credit facility. The company reported a third-quarter sales decline of 6.1% year-on-year to $128.08 million, missing the analyst consensus estimate of $136.42 million. Segment Revenue: Total United States revenue was $105.7 million and that of International was $22.4 million. The gross profit for the ...