Why Acacia Communications Stock Popped Today [The Motley Fool]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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US:NASDAQ Investor Relations:
ir.acacia-inc.com/investor-overview
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Source: The Motley Fool
Acacia topped its guidance in the third quarter. Evan Niu, CFA ( TMFNewCow ) Nov 2, 2018 at 1:25PM What happened Shares of Acacia Communications ( NASDAQ:ACIA ) have popped today, up by 19% as of 1 p.m. EDT, after the company reported third-quarter earnings results. The optical networking equipment specialist beat its own guidance. So what Revenue in the third quarter came in at $94.8 million, above the high end of Acacia's guidance, which had called for sales of $86 million to $94 million. The company crushed its profitability forecast, reporting non- GAAP net income of $17.6 million, or $0.42 per share. It had previously guided to just $0.10 to $0.22 per share in adjusted profits. Non-GAAP gross margin was 46.7% and adjusted EBITDA was $18.5 million. Image source: Getty Images. CFO John Gavin said strong demand for newer products
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