Vertiv Stock Jumps As Data Center Player Crushes Q2 Targets
Data center infrastructure provider Vertiv Holdings LLC on Wednesday smashed analyst estimates for the second quarter and raised its full-year outlook. Vertiv stock jumped in early trading.
The Westerville, Ohio-based company earned an adjusted 95 cents a share on sales of $2.64 billion in the June quarter. Analysts polled by FactSet had expected Vertiv earnings of 83 cents a share on sales of $2.35 billion. In the year-earlier period, Vertiv earned an adjusted 67 cents a share on sales of $1.95 billion.
In premarket trading on the stock market today, Vertiv stock surged more than 5%.
Vertiv provides power, cooling and other infrastructure for data centers, communication networks and commercial and industrial facilities.
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