By Chris Wack
Viavi Solutions shares were up 26% to $12.61 after the company reported second-quarter adjusted earnings and revenue that beat analysts' expectations.
The technology company reported quarterly adjusted earnings of 13 cents a share, while analysts' polled by FactSet were looking for adjusted earnings of 10 cents a share.
Revenue for the quarter came in at $270.8 million, compared with $254.5 million in the same quarter last year. Analysts were looking for revenue of $260 million.
Earnings for the quarter were $9.1 million, or four cents a share, compared with last year's $10.7 million, or five cents a share. Analysts were expecting earnings of $13.2 million, or six cents a share.
For the third quarter, Viavi is looking for revenue of $276 million to $288 million, and adjusted earnings of 10 cents to 13 cents a share. Analysts are looking for revenue of $282 million, and adjusted earnings of 12 cents a share.
Analysts at Needham raised their rating on Viavi stock to Buy from Hold, with a price target of $15 a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 31, 2025 10:15 ET (15:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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