Acacia Stock Jumps As Earnings, Revenue, Guidance Top Expectations [Investor's Business Daily]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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Source: Investors Business Daily
Related news Acacia Communications ( ACIA ) late Thursday reported lower third-quarter revenue and profit from a year earlier, but results beat analyst estimates. Acacia stock surged in after-hours trading as December-quarter guidance topped expectations. X The maker of optical communications devices said adjusted third-quarter earnings were 42 cents a share, down 9% from a year ago, as revenue fell 10% to $94.8 million, topping forecasts. A year earlier, Acacia earnings were 46 cents a share on sales of $345.8 million. Analysts expected Acacia to report earnings of 17 cents on sales of $90 million for the period ended Sept 30. In the December quarter, Acacia forecast revenue of $102 million at its midpoint of guidance and profit of 35 cents per share. Analysts had projected $99.7 million and profit of 31 cents. Shares in the maker of optical devices for telecom networks and data centers jumped 8.3% to 39.50 in after-hours trading on the stock market today . Acacia stock
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