Overview
- Viavi shares rose about 25% after the bell as investors reacted to stronger-than-expected fiscal third-quarter results and a confident outlook for the next quarter.
- Revenue reached $406.8 million, up 42.8% from a year ago, and non-GAAP earnings per share came in at $0.27, up 80%.
- Non-GAAP operating margin improved to 21.0%, with the network and service enablement unit up 54.4% to $321.5 million.
- The company guided fourth-quarter revenue to $427 million to $437 million and projected non-GAAP EPS of $0.29 to $0.31.
- CEO Oleg Khaykin pointed to data centers and aerospace and defense as growth drivers, while the company reported $508 million in cash and drew a Buy rating with a $53 target from B. Riley.