Viavi Solutions' stock surged 12.60% during intraday trading on Thursday, driven by a powerful combination of better-than-expected quarterly results and optimistic future guidance.

The optical technology company reported second-quarter adjusted earnings of $0.22 per share, surpassing analyst estimates, while revenue of $369.3 million also exceeded expectations and showed significant year-over-year growth. The company attributed this performance to robust demand within its data-center ecosystem and aerospace and defense applications.

Furthermore, Viavi provided a bullish outlook for the third quarter, forecasting both profit and revenue well above current analyst consensus estimates. This positive guidance, coupled with the announcement of a restructuring plan aimed at generating annual cost savings, prompted multiple Wall Street firms to raise their price targets on the stock, fueling the significant intraday gain.