Why Impinj Stock Is Skyrocketing Today

Shares of Impinj (NASDAQ: PI), an Internet of Things company, were soaring today after the company reported better-than-expected second-quarter results. Impinj beat Wall Street's average estimates for both its top and bottom lines. 

As a result, the tech stock was up by 13.2% as of 12:14 p.m. ET. 

Impinj reported second-quarter sales of $59.8 million -- up 26.5% from the year-ago quarter -- which easily beat analysts' consensus estimate of $55.1 million. The company's non-GAAP earnings of $0.11 per share were flat year over year, but far outpaced Wall Street's average estimate of a loss of $0.02 per share. 

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Source Fool.com