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Why II-VI Stock Is Skyrocketing Today

TheMotleyFool

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Shares of II-VI (NASDAQ: IIVI) are skyrocketing today, up by 17.5% as of 2:34 p.m. EST, after the company reported fiscal first-quarter earnings. The results crushed profit expectations and guidance came in better than expected as well.

Revenue in the fiscal first quarter came in at $728.1 million, which was basically in line with the consensus estimate of $728.9 million. That resulted in adjusted earnings per share of $0.84. Wall Street was only looking for $0.55 per share in adjusted profits. The optoelectronic technology company continues to integrate its acquisition of Finisar, which has helped II-VI expand its presence in 3D sensing after closing a little over a year ago.

Image source: Getty Images.

Source Fool.com

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