AVNW - Why Aviat Networks Stock Is Soaring Today
2023-08-24 11:21:36 ET
Aviat Networks (NASDAQ: AVNW) stock is seeing big gains in Thursday's trading. The wireless transport solutions specialist's share price was up 12.1% as of 11 a.m. ET, according to data from S&P Global Market Intelligence .
Prior to the market opening this morning, Aviat published results for the fourth quarter of its last fiscal year, which ended June 30. The company recorded non-GAAP (adjusted) earnings per share of $0.87 on revenue of $91.2 million in the period, beating the average analyst estimate's call for adjusted per-share earnings of $0.86 on sales of $89.1 million.
Aviat Networks grew sales 17.8% year over year in Q4. The company's North America geographic segment grew sales 13% compared to the prior-year period, while its international segment saw revenue expand 25.8% to hit $36 million.
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Why Aviat Networks Stock Is Soaring Today