Viavi Solutions' stock surged 5.19% during intraday trading on Monday. The company's shares continued to demonstrate significant upward momentum following the release of its latest financial results.

The primary driver for the stock's performance was the company's recently reported fiscal third-quarter earnings, which significantly exceeded market expectations. Viavi Solutions posted a non-GAAP EPS of $0.27, well above the consensus estimate of $0.23, representing an 80% year-over-year increase. Non-GAAP net income also saw a substantial rise of 99.4% compared to the same period last year.

Furthermore, the company provided robust guidance for the fourth quarter, projecting non-GAAP EPS in the range of $0.29 to $0.31. The stock also benefited from a broad-based rally within the communication equipment sector, with peers like Applied Optoelectronics and Lumentum Holdings posting substantial gains, creating positive sector sentiment that contributed to Viavi's upward move.