Why NeoPhotonics Stock Skyrocketed Today
Shares of NeoPhotonics (NYSE: NPTN) were up 32.4% as of 3:05 p.m. EDT Tuesday after the integrated-optoelectronic device specialist announced far-better-than-expected second-quarter 2019 earnings.
More specifically, NeoPhotonics' quarterly revenue grew 1% year over year to $81.7 million, well above estimates for a 4.6% decline. That translated to an adjusted net loss of $0.03 per share, narrowed from a $0.19-per-share loss a year earlier, and also far above expectations for a $0.09-per-share loss.
IMAGE SOURCE: GETTY IMAGES.
Quelle Fool.com
