CommScope Holding Company (NASDAQ: COMM) saw its stock price surge 6.95% in pre-market trading on Thursday after the network infrastructure provider reported first-quarter earnings that surpassed analyst expectations and announced a new stock repurchase program.
For the first quarter of 2025, CommScope reported adjusted earnings per share of $0.14, handily beating the consensus estimate of $0.07. Revenue came in at $1.11 billion, in line with analyst projections. The company saw strong year-over-year growth, with net sales increasing 23.5% compared to the same period last year. CommScope's CEO Chuck Treadway noted that the company is "off to an encouraging start in 2025 resulting in strong year-over-year growth in revenue and adjusted EBITDA."
Adding to investor optimism, CommScope's Board of Directors approved a share repurchase plan authorizing the company to buy back up to $50 million of its outstanding common stock. This move signals confidence in the company's financial position and outlook. The combination of better-than-expected earnings and the new buyback program appears to be driving the significant pre-market stock price increase.