Astera Labs surges on results beat, upbeat forecast

Astera Labs,

04/11/2024 21:21

** Shares of chip company Astera Labs  ALAB.O  rise 19.2% to
$83 in extended trading
    ** ALAB reports Q3 revenue of $113.1 mln vs est. of $97.44
mln, according to data compiled by LSEG
    ** Astera Labs forecasts Q4 revenue of $126 mln to $130 mln
compared with ests. of $108.4 mln
        ** Posts Q3 adjusted earnings per share of 23 cents
compared with est. of 17 cents per share
    ** Up to last close, stock is up 93.5% from issue price of
$36 apiece when it went public in March

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))