American Superconductor Corporation (AMSC) stock surged 5.02% in the after-hours trading session on Wednesday following the company's impressive financial results for the third quarter of fiscal year 2024 and an optimistic outlook for the fourth quarter.
The key highlights from AMSC's Q3 earnings report include:
For the upcoming fourth quarter, AMSC expects revenues to range between $59.0 million and $63.0 million, and non-GAAP net income to exceed $2.5 million or $0.07 per share. The company's solid performance and upbeat guidance fueled the after-hours rally in its stock price.
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