Applied Optoelectronics Shares Surge Nearly 20% On Raised Outlook
Shares of Applied Optoelectronics Inc. rallied in the extended session Wednesday after the optical network equipment company forecast earnings well above its original outlook. Applied Optoelectronics shares jumped 19% to $27.08 after hours. The company expects adjusted fourth-quarter earnings of 77 cents to 82 cents a share on revenue of $84.5 million to $84.8 million. Analysts surveyed by FactSet had estimated 50 cents a share on revenue of $77.5 million, based on the company's previous earnings guidance of 46 cents to 51 cents a share on revenue of $75 million to $79 million.
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