Align Technology Earnings: Here’s Why the Stock is Rising Now
Align Technology Inc. (NASDAQ:ALGN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.93%.
Align Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.88% to $0.36 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 12.5% to $163.83 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Align Technology Inc. reported adjusted EPS income of $0.36 per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $156.2 million.
Quoting Management: “I’m pleased to report another good quarter with better than expected revenues, gross margins and earnings,” said Thomas M. Prescott, Align president and CEO. “Strong second quarter results were driven by higher Invisalign volumes and ASPs, with sequential growth across all customer channels.”
Key Stats (on next page)…