NEW YORK (TheStreet) -- ARRIS Group  (ARRS) stock is gaining Wednesday after the telecommunications company reported first-quarter results higher than analysts expected and issued guidance above consensus. 

By early afternoon, shares had added 11.5% to $28.68.

Over the three months to March, the company earned 47 cents a share, 2 cents higher than analysts surveyed by Thomson Reuters forecast. Revenue of $1.22 billion exceeded estimates of $1.18 billion.

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For its second quarter, management expects revenue between $1.4 billion and $1.45 billion and earnings of 64 cents to 70 cents a share. Analysts expected 63 cents a share and $1.35 billion in revenue.  

TheStreet Ratings team rates ARRIS GROUP INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate ARRIS GROUP INC (ARRS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."

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