By Chris Wack
TTM Technologies shares were up 14% to $22.77 in Thursday trading after the company reported first-quarter earnings that beat analysts' expectations.
The company, which makes technology components, said after the close Wednesday it had quarterly earnings of $32.2 million, or 31 cents a share, compared with $10.5 million, or 10 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $41.3 million, or 22 cents a year.
Sales for the quarter were $648.7 million, compared with last year's $570.1 million, and the $621.5 million analysts were expecting.
TTM said revenues grew 14% year on year due to demand strength in its Aerospace and Defense, Data Center Computing and Networking end markets, with the latter two being driven by generative AI.
For the second quarter, TTM is expecting revenue of $650 million to $690 million, and adjusted earnings of 49 cents to 55 cents a share. Analysts are forecasting quarterly revenue of $668 million, and adjusted earnings of 52 cents a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 01, 2025 13:07 ET (17:07 GMT)
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