Why Aerojet Rocketdyne Stock Just Popped 12%

Why Aerojet Rocketdyne Stock Just Popped 12%

Shares of Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) stock are up 12.1% as of 11:35 a.m. EDT on Friday.

Coming on top of a 12.7% rise in Aerojet Rocketdyne stock in July, today's pop is a welcome addition for stockholders. So what contributed to the stock's most recent rise? In a word: earnings.

Last night after close of trading, Aerojet reported its fiscal Q2 2017 earnings -- a bit ahead of schedule. Sales for the quarter came in ahead of expectations at $459.6 million. Profits per share were an astoundingly good $0.32. (Wall Street had been expecting only $0.15). This was more than three times the $0.09 per share that Aerojet had reported in the year-ago quarter.

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Source: Fool.com