Fabrinet jumps on upbeat Q1 revenue forecast, quarterly results beat

Fabrinet

20/08/2024 17:47

** Shares of optical equipment maker Fabrinet  FN.N  rise
~15.07% to $266.45 after forecasting Q1 revenue above estimates
on continuous growth expectations in datacom
    ** After market close on Monday, company said it expects Q1
revenue in the range of $760 mln to $780 mln vs analysts'
expectations of $749.2 mln, according to LSEG data 
        ** Fabrinet reported revenue of $753.3 mln for Q4,
beating analysts' expectations of $732.9 mln
    ** Co posted Q4 adjusted profit of $2.41 per share, handily
surpassing estimates of $2.25 per share
    ** At least 5 brokerages raised PTs on the stock after
results
    ** Including session moves, stock has climbed nearly 42.44%
YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.Srivastava2@thomsonreuters.com;))