Fabrinet (NYSE:FN) shares climbed after the company released its first-quarter earnings report after Monday's closing bell, beating estimates on the top and bottom lines.
Here's a look at the details in the report.
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The Details: Fabrinet reported quarterly earnings of $2.92 per share, which beat the analyst estimate of $2.82. Quarterly revenue clocked in at $978.12 million, which beat the Street estimate of $933.71 million.
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“We had an outstanding first quarter with revenue of $978 million dollars, which was above our guidance range. This record result was driven by another strong telecom performance, an early contribution from new High-Performance Computing revenue, and a smaller-than-anticipated sequential decline in datacom revenue,” said Fabrinet CEO Seamus Grady.
Outlook: Fabrinet is looking for second-quarter adjusted EPS of $3.15 to $3.30, versus the $2.97 analyst estimate and revenue in a range of $1.05 billion to $1.1 billion, versus the $981.08 million estimate.
FN Stock Price: According to data from Benzinga Pro, Fabrinet stock was up 9.69% at $485.90 in Monday's extended trading.
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