Why Shares of Applied Optoelectronics Jumped Today

Shares of Applied Optoelectronics (NASDAQ: AAOI) rose on Friday after the fiber-optic networking provider reported its second-quarter results. Soaring revenue easily topped analysts' expectations, and the company reported a smaller-than-expected net loss. The stock was up by about 11.2% at 11:52 a.m. EDT.

For the period, Applied Optoelectronics reported revenue of $65.2 million, up 50.2% year over year, and about $7.9 million higher than the average analyst estimate. Demand from its data center customers was strong, and revenue in the telecom segment was driven to record levels by the construction of 5G networks.

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Source Fool.com