VIAV - Viavi gains 9% as revenues surprise company guides above expectations

Viavi Solutions (VIAV +8.6%) shares jumps after beating consensus on top and bottom lines with its fiscal second-quarter earnings, delivering its 2nd highest revenue quarter with a record non-GAAP operating margin at 23.3%. Americas, Asia-Pacific and EMEA customers represented 39.9%, 28.9% and 31.2%, respectively, of total net revenue for the quarter ended Jan. 1, 2022. Adj. Gross margin increased 60 bps Q/Q and 10 bps Y/Y to 63.20%. During fiscal Q2, we redeemed $45.6M in convertible notes which brings us to ~47% retirement of the original convertible notes. As of Feb. 2nd, we also repurchased ~10.9M shares and exceeded the 10.6M shares delivered during the Sept. 2021 convertible note redemption transaction. As of Jan. 1, 2022, the Company held $738.5M in total cash, short-term restricted cash and short-term investments. FQ3 2022 Outlook: The Co. expects net revenue to be between $301-$315M vs. $310.13M consensus and non-GAAP EPS between $0.20- $0.22 vs. $0.19 consensus. "Business strength was led by Fiber and Wireless products

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Viavi gains 9% as revenues surprise, company guides above expectations