Ribbon Communications, Inc. (NASDAQ:RBBN) Q2 2023 Earnings Conference Call July 26, 2023 4:30 PM ET
Company Participants
Joni Roberts - Chief Marketing Officer
Bruce McClelland - President, CEO & Director
Miguel Lopez - EVP & CFO
Conference Call Participants
Christian Schwab - Craig-Hallam Capital Group
Timothy Savageaux - Northland Capital Markets
Dave Kang - B. Riley
Greg Mesniaeff - WestPark Capital
Erik Suppiger - JMP Securities
Operator
Greetings, and welcome to the Ribbon Communications Second Quarter 2023 Financial Results Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Joni Roberts, Chief Marketing Officer. Thank you, Joni. You may begin.
Joni Roberts
Good afternoon, and welcome to Ribbon's second quarter 2023 financial results conference call. I am Joni Roberts, Chief Marketing Officer at Ribbon Communications. Also on the call today are Bruce McClelland, Ribbon's Chief Executive Officer; and Mick Lopez, Ribbon's Chief Financial Officer. Today's call is being webcast live, and archived on the Investor Relations section of our website at rbbn.com, where both our press release and supplemental slides are currently available.
Certain matters we will be discussing today, including the business outlook and financial projections for the third quarter of 2023 and beyond are forward-looking statements. Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those contained in these forward-looking statements. These risks and uncertainties are discussed in our documents filed with the SEC, including our most recent Form 10-K and Form 10-Q. I refer you to our safe harbour statement included on Slide 2 of the supplemental slides for this conference call.
In addition, we will present non-GAAP financial information on this call. Reconciliations to the applicable GAAP measures are included in the earnings press release we issued earlier today, as well as in the supplemental slides we prepared for this conference call, which again are both available on the Investors section of our website.
And now I would like to turn the call over to Bruce. Bruce?
Bruce McClelland
Great. Thanks, Joni. And welcome to the Ribbon team, and thanks to everyone for joining us today. I'm pleased to report a very solid quarter with financial results above the midpoint of our guidance. Our focus on growing enterprise and cross-selling our IP Optical portfolio is working with growth in both sales and earnings.
For the first half of the year, sales have increased 5% year-over-year, and earnings have improved 66% or $8 million on an adjusted EBITDA basis. In the second quarter, sales increased 2.3% year-over-year to $211 million with continued growth in India resulting in sales in Asia Pacific increasing 21%, while EMEA sales were up 1%, and overall North American sales were down 2%.