Amphenol (APH) shares soared 9.15% in intraday trading on Wednesday, extending a sharp pre-market rally after the electronic components maker reported second-quarter results that handily beat Wall Street expectations and provided an optimistic third-quarter outlook.
The company reported adjusted earnings of $1.35 per share, surpassing the analyst consensus estimate of $1.18, while revenue climbed 55% to $8.76 billion, well above the $8.23 billion forecast. The strong performance was driven by exceptional organic growth in the IT datacom market, as demand for its connectors and sensor systems surged alongside tech companies' aggressive buildout of AI data center infrastructure.
Looking ahead, Amphenol forecast third-quarter revenue of $9.3 billion to $9.4 billion, significantly above the $8.69 billion consensus estimate, and projected adjusted earnings per share of $1.40 to $1.42, also topping expectations. The company raised its full-year sales forecast for the recently acquired CommScope business to $4.6 billion, reflecting sustained momentum in the communications solutions segment.