Viavi Solutions Inc. (NASDAQ:VIAV) shares are trending on Wednesday night.
On Wednesday, VIAV shares jumped 25.17% to $56.99 after the bell after the network and optical technology company delivered fiscal third quarter results where earnings beat analyst estimates by 22.73% and revenue by 3.32%.
The results reported are for the period ended Mar. 28.
What Q3 Data Tells
Viavi’s net revenue in the third quarter hit $406.8 million, up 42.8% year-over-year. Non-GAAP earnings per share came in at $0.27, up 80% YoY, while non-GAAP operating margin expanded 430 basis points to 21.0%.
The network and service enablement segment led growth, surging 54.4% YoY to $321.5 million.
As of March 28, the company had $508 million in cash and short-term investments.
CEO Oleg Khaykin said, “VIAVI’s financial performance for the third quarter has exceeded our expectations, driven by strong growth in the data center and aerospace and defense end markets.”
Bullish Q4 Guidance …
This post was originally published here
