Finisar Earnings: Here’s Why Shares are Up Now
Finisar Corp. (NASDAQ:FNSR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3%.
Finisar Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 26.09% to $0.17 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Decreased 1.89% to $238.35 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Finisar Corp. reported adjusted EPS income of $0.17 per share. By that measure, the company beat the mean analyst estimate of $0.16. It missed the average revenue estimate of $238.36 million.
Quoting Management: “During the quarter, we continued to invest significantly in technology and product development and made substantial progress on a number of new products for our datacom and telecom products lines. We are planning several compelling product announcements at the OFC show during the week of March 18th in Anaheim, California,” said Eitan Gertel, Finisar’s Chief Executive Officer.
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