Align Technology Shares Surge After Hours On Outlook

By Wallace Witkowski Markets MarketWatch Pulse

Align Technology Inc. shares rallied in the extended session Thursday after the maker of Invisalign braces issued a forecast above Wall Street estimates. Align shares surged 13% to $135.75 after hours. The company forecast earnings of 71 cents to 74 cents a share on revenue of $340 million to $345 million for the second quarter. Analysts surveyed by FactSet had estimated 71 cents a share on revenue of $324.2 million. For the first quarter, Align reported earnings of 85 cents a share, which included a 26-cents-a-share benefit from excess tax benefits from stock-based compensation, on revenue of $310.3 million. Analysts had estimated 67 cents a share without the benefit on revenue of $297.5 million.

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