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Why Cognex Stock Jumped Today

TheMotleyFool

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Shares of Cognex (NASDAQ: CGNX) have jumped today, up by 10% as of 12:20 p.m. EDT, after the company reported first-quarter earnings. The machine-vision specialist beat expectations for both the top and bottom lines.

Revenue in the first quarter came in at $167.2 million, ahead of the $154.9 million in sales that Wall Street was looking for. That all translated into net income of $20.5 million, or $0.11 per share on an adjusted basis. The consensus estimate had called for just $0.08 per share in adjusted profits.

Image source: Getty Images.

Source Fool.com

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