Cognex Earnings Show Broad-Based Strength
On the face of it, the record third-quarter earnings report from machine vision company Cognex (NASDAQ: CGNX) was little short of sensational. A combination of nearly 80% revenue growth and an around 90% increase in net income from continuing operations would normally be enough to thrill investors, but Cognex's management had already prepared them for a "monster" quarter.
In reality, the takeaways from the quarter are more nuanced than just the headline numbers, so let's take a closer look at them.
Cognex can benefit from increasing spending on automotive automation. Image source: Getty Images.
Source: Fool.com