Acacia stock surges on strong third-quarter outlook [MarketWatch]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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ir.acacia-inc.com/investor-overview
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Source: MarketWatch
Acacia stock surges on strong third-quarter outlook Acacia Communications Inc. ACIA, +3.86% shares rallied in Thursday's extended session after the optical networking technology company issued a strong third-quarter outlook. Acacia reported it swung to a second-quarter net loss of $3.2 million, or 8 cents a share, from a net income of $4.7 million, or 11 cents a share, a year earlier. Revenue slid to $65 millon from $78.9 million. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $63.3 million. The company projected third-quarter adjusted revenue of $86 million to $94 million and earnings per share of 10 cents to 22 cents. Wall Street is predicting revenue of $73.7 million and EPS of 8 cents. Acacia shares jumped 5.5%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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