Astera Labs Stock Surges As Chipmaker Tops Q2 Targets
Chipmaker Astera Labs late Tuesday handily beat analyst estimates for the second quarter and guided higher for the current period.
Astera Labs jumped more than 14% to $155 in after-hours trading.
The San Jose, Calif.-based company earned an adjusted 44 cents a share on sales of $191.9 million in the June quarter. Analysts polled by FactSet had expected earnings of 32 cents a share on sales of $172.5 million. In the year-earlier period, Astera Labs earned an adjusted 13 cents a share on sales of $76.9 million.
For the current quarter, Astera Labs expects to earn an adjusted 39 cents a share on sales of $206.5 million. That's based on the midpoint of its guidance. Wall Street was looking for earnings of 34 cents a share on sales of $180.7 million. In the same quarter last year, Astera Labs earned an adjusted 23 cents a share on sales of $113.1 million.
Astera Labs makes high-bandwidth, low-latency semiconductor connectivity systems for cloud computing and AI data centers.
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