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Why Astera Labs Skyrocketed Today

TheMotleyFool

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Astera Labs (NASDAQ: ALAB) stock posted explosive gains in Tuesday's trading. The company's share price closed out the session up 37.7% and had been up as much as 39.8% earlier in the day's trading.

After the market closed yesterday, Astera Labs published its third-quarter results. The company posted sales and earnings for the period that came in significantly better than Wall Street had expected, and it also gave encouraging forward guidance.

Astera Labs posted non-GAAP (adjusted) earnings per share of $0.23 on sales of $113.1 million in the third quarter. The performance came in significantly ahead of the average Wall Street estimate, which had called for adjusted per-share earnings of $0.17 on sales of roughly $97.4 million.

Source Fool.com

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