Why Shares of Acacia Communications Have Jumped 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
After temporarily losing a major customer in April, Acacia sees better days ahead. Timothy Green ( TMFBargainBin ) Aug 3, 2018 at 11:28AM What happened Shares of Acacia Communications ( NASDAQ:ACIA ) have risen on Friday following the optical interconnect supplier's second-quarter report. The company beat expectations for revenue despite a steep decline, and its guidance for the third quarter was well above analyst estimates. The stock was up about 15.6% at 10:45 a.m. EDT. So what Acacia reported second-quarter revenue of $65 million, which was down 18% year over year but about $1.7 million above the average analyst estimate. That decline wasn't as bad as it could have been after the U.S. Department of Commerce banned the sale of components to China's ZTE Corp. in April. ZTE was responsible for about 30% of Acacia's revenue in 2017. Ima
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