Applied Optoelectronics sees Q1 results far above guidance

|By:, SA News Editor

Shares in optical networking firms rose in after-hours trading after Applied Optoelectronics (NASDAQ:AAOI) announced preliminary Q1 earnings and revenue that easily beat analyst consensus estimates and the company’s own guidance.

The fiber-optic parts maker sees Q1 EPS of $1.00-$1.02 vs. prior guidance of $0.80-$0.88 and Wall Street consensus of $0.83, and revenues of ~$96.2M vs. prior guidance of $87M-$91M and $89.7M consensus.

AAOI surged +20% AH, lifting peers including LITE +4.5%, OCLR +3.9%, NPTN +2.3%, FNSR +2.1%, VIAV +1.6%, CIEN +1.4%.