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Why IPG Photonics Stock Rocketed Higher on Tuesday

TheMotleyFool

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Why IPG Photonics Stock Rocketed Higher on TuesdayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

Shares of IPG Photonics (NASDAQ: IPGP) charged sharply higher on Tuesday, surging as much as 17.4%. As of 10:34 a.m. ET, the stock was still up 17.2%.

The catalyst that sent the industrial laser maker higher was its quarterly earnings report, which was far better than expected.

For the first quarter, IPG Photonics generated revenue of $370 million, which climbed 7% year over year. This resulted in earnings per share (EPS) of $1.31, compared with EPS of $1.26 in the prior-year quarter.

Source Fool.com

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