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Pareteum Adjusts Q2 Sales, Shares Up 14%

Tanzeel Akhtar

Pareteum Corp (NASDAQ: TEUM) announced that its positive preliminary financial results for the second quarter are expected to exceed analysts' consensus of $26.2 million for revenue and $4.1 million for Adjusted EBITDA.

“Pareteum delivered a strong second quarter, achieving robust year-over-year revenue growth and solid bottom-line performance driven by substantial customer demand and increasing connections and usage within the customer base," said Hal Turner, CEO of Pareteum.

"Reception to our newly launched Pareteum Experience Cloud has been extremely positive and we are very excited by the accelerating momentum and rates of initial customer adoption for this powerful new solution."

Pareteum's stock traded higher by 14% to $2.99 per share in Monday's pre-market session. The stock has a 52-week high of $5.93 and a 52-week low of $.145 per share.

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