NPTN - Why NeoPhotonics' Stock Rose 20% Today
Shares of NeoPhotonics (NYSE: NPTN) jumped as much as 19.9% higher on Friday, boosted by a strong third-quarter earnings report. The maker of optoelectronic components used in high-speed communication networks settled down to a slightly lower 18.5% gain by 12:50 p.m. EDT.
NeoPhotonics saw third-quarter revenue of $92.4 million, 13% above the year-ago period's result and far ahead of Wall Street's $90 million consensus estimate. On the bottom line, adjusted earnings swung from a $0.05 loss per share to a profit of $0.11 per share. Here, your average analyst would have settled for earnings near $0.02 per share.
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