PLT - Plantronics +13% after FQ2 beats strong profit outlook

Plantronics/Poly (PLT) shares are up nearly 13% on yesterday's upside fiscal Q2 results, which included $415M in revenue (-12% Y/Y; $40.1M above estimates) and $0.93 ($0.46 above estimates).Gross margin was 48.9% compared to 52.4% in last year's quarter.Adjusted EBITDA dropped from $93M to $69M on the year.Poly retired $$37M of debt and ended the quarter with $228M in cash and short-term investments.Q2 highlight: "Poly posted record Enterprise Headset revenue and unit shipments, and shipped a record number of Video endpoints resulting in the highest Video revenue since the Polycom acquisition."For fiscal Q3, the company expects revenue of $417-447M (consensus: $379.92M) $70-80M adjusted EBITDA, and $0.85-1.05 EPS (consensus: $0.47).Previously: Plantronics EPS beats by $0.46, beats on revenue (Oct. 29 2020)Deeper dive: FQ2 earnings call transcript.

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Plantronics +13% after FQ2 beats, strong profit outlook