PRLB - Proto Labs Stock Jumps 5.3% on Earnings and Revenue Beats
Proto Labs (NYSE: PRLB) released better than expected fourth-quarter and full-year 2021 results before the market open on Friday.
Shares of the quick-turn contract manufacturing company jumped 5.3% on Friday. That performance is stronger than this number suggests because the market was under pressure. On Friday, the S&P 500 and tech stock -heavy Nasdaq Composite were down 1.9% and 2.8%, respectively.
The market's positive reaction to the release is attributable to fourth-quarter revenue and earnings both easily surpassing Wall Street's consensus estimates.
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Proto Labs Stock Jumps 5.3% on Earnings and Revenue Beats