Why Infinera Stock Popped 38.1% in August
Shares of Infinera (NASDAQ: INFN) climbed 38.1% in August, according to data from S&P Global Market Intelligence, after the telecommunications equipment maker announced strong second-quarter results.
Infinera stock popped nearly 15% on Aug. 8 alone, the first trading day after the company revealed its adjusted quarterly revenue had jumped 47% year over year to $306.9 million -- albeit largely driven by its acquisition of Coriant last year -- which translated to an adjusted net loss of $42 million, or $0.24 per share. Still, both the top and bottom lines compared favorably to Infinera's guidance, which called for a wider per-share loss of $0.30 to $0.26 on revenue ranging from $290 million to $310 million.
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Source Fool.com
