Why IPG Photonics Jumped Nearly 9% Today
Shares of laser technology outfit IPG Photonics (NASDAQ: IPGP) rallied 8.9% on Tuesday in response to a healthy third-quarter report and equally healthy guidance for Q4.
For the third quarter, IPG Photonics turned $379.2 million worth of revenue into a profit of $1.40 per share. Sales were up 19% year over year, and earnings more than doubled from their year-ago result of $0.66 per share. Analysts had only been modeling for a bottom line of $1.27 per share, and a top line of $368.3 million.
Image source: Getty Images.
Source Fool.com
