Plexus Shares Jumped: 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 Plexus (NAS: PLXS) have popped today, up by as much as 16% after the company reported first-quarter earnings last night.
So what: Revenue for the quarter came out to $529.7 million, while earnings per share added up to $0.51. Both top and bottom lines bested analyst expectations, which were looking for $527.8 million in sales and a $0.48 per-share profit.
Now what: Second-quarter guidance was just as rosy, with revenue estimated from $550 million to $580 million, with next quarter's profit from $0.51 to $0.58 per share. Both ranges look nice compared to the consensus estimates of $547.6 million and $0.51 per share in profit next quarter. The release is also contributing to the broader tech rally today along with strong earnings from F5, which also reported last night.
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