Shares of Casa Systems (NASDAQ: CASA) surged as much as 54.3% higher on Friday, following a fantastic earnings report. By 1:40 p.m. EST, the network infrastructure expert's stock had cooled down somewhat to a 37% gain.
In the fourth quarter of 2020, Casa Systems' revenue rose 7% year over year to $120.5 million. Adjusted earnings increased from $0.15 to $0.27 per diluted share. Your average Wall Street analyst would have settled for earnings of roughly $0.11 per share on sales near $107.5 million.
Image source: Getty Images.
For further details see:
Why Casa Systems Stock Soared More Than 50% Friday