Fiber optic company Applied Optoelectronics Inc (NASDAQ:AAOI) flew past analyst estimates in its second-quarter results.
The optical network company reported earnings of US$0.40 per share on revenue of US$87.8mln compared with US$1.43 on revenue of US$117.3mln in the previous year’s second quarter.
Shares of Applied Optoelectronics were up more than 18% to US$43.97 in Wednesday morning trading.
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The Texas-based company beat Wall Street estimates of US$0.44 EPS on revenue of $77.8mln.
Applied Optoelectronics provides fiber-optic access network products, like optical modules and lasers, to internet service providers, data center operators, cable television and telecom equipment manufacturers.
“We remain confident in our competitive position. We believe our platform, proprietary manufacturing processes and vertical integration are keys to our success in the market, and remain focused on building on this strong foundation to position AOI for further success,” said CEO Thompson Lin in the company’s press release.
For the next quarter, the company expects revenue to be in the range of US$82mln to US$92mln.