Finisar Roars Higher After Earnings Beat

Finisar Corp. jumped as much as 12% in late trading Thursday after reporting earnings that surpassed Wall Street expectations. The Silicon Valley optical-networking company reported net income of $6.6 million, or 6 cents a share, on sales of $321.1 million; after adjustments, Finisar claimed per-share profits of 25 cents. Analysts polled by FactSet had expected adjusted earnings of 23 cents a share on sales of $314 million. After closing regular trading with a 0.9% decline at $11.64 Thursday, Finisar shares pushed near $13 in late trading following the report.