Fabrinet Stock Climbs After Q1 Earnings Beat Estimates

Core Viewpoint - Fabrinet's first-quarter earnings report exceeded analyst expectations, leading to a significant increase in stock price [1][2]. Financial Performance - Fabrinet reported quarterly earnings of $2.92 per share, surpassing the analyst estimate of $2.82 [2]. - Quarterly revenue reached $978.12 million, exceeding the Street estimate of $933.71 million [2]. Management Commentary - CEO Seamus Grady highlighted that the record revenue was driven by strong telecom performance, early contributions from new High-Performance Computing revenue, and a smaller-than-expected decline in datacom revenue [3]. Future Outlook - For the second quarter, Fabrinet anticipates adjusted EPS between $3.15 and $3.30, compared to the analyst estimate of $2.97 [4]. - Revenue guidance for the second quarter is projected to be between $1.05 billion and $1.1 billion, exceeding the estimate of $981.08 million [4]. Stock Performance - Following the earnings report, Fabrinet's stock rose by 9.69%, reaching $485.90 in extended trading [4].