Why Shares of Cognex Are Soaring Today

Shares of machine vision systems provider Cognex (NASDAQ: CGNX) rose on Tuesday after the company reported second-quarter results that beat analyst expectations. As of 12:56 p.m. EDT, the stock was up 14.8%.

Cognex reported second-quarter revenue of $172.9 million, up 17% year over year and about $3 million higher than the average analyst estimate. Strength across a variety of industries was partially offset by weakness from the consumer electronics industry.

Image source: Cognex.

Source: Fool.com