Brightpoint Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of wireless-services provider Brightpoint (NAS: CELL) soared as much as 17% in early trading and ended the session up close to 14% after crushing second-quarter estimates.
So what: Revenue soared 57% to $1.23 billion while adjusted profit increased 44% to $0.23 a share. Analysts had been looking for $1.1 billion and $0.20, respectively.
Now what: Interestingly, Brightpoint's 15% earnings beat -- $0.23 versus the consensus estimate of $0.20 -- marks the fourth consecutive quarter of a double-digit trouncing of Wall Street's best guess. Coincidence, or long-term momentum story in the making? You tell me. Weigh in using the comments box below.
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