Shares of Astera Labs, Inc. ALAB rose sharply in pre-market trading after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.
The company reported a 20% quarter-over-quarter increase in revenue, reaching a record $191.9 million during the second quarter. This represents a 150% year-over-year rise.
Astera Labs shares jumped 17.3% to $159.31 in the pre-market trading session.
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