Add as a preferred source on GoogleOptical Communications Stocks Rise Ahead of Astera Labs Results
Fabrinet reported fiscal first-quarter revenue of $1.47 billion, up 51% year over year, and forecast second-quarter revenue of $1.6 billion to $1.65 billion.
U.S.-listed optical communications shares rose Tuesday morning. Astera Labs and Fabrinet were among the gainers at 9:47 a.m. ET (14:47 UTC), with Fabrinet's move following its quarterly results Monday.
At that time, Ciena, Credo, Coherent, Applied Optoelectronics Inc. and Corning had also risen.
Fabrinet's fiscal first-quarter revenue increased 51% year over year to $1.47 billion. The optical communications component manufacturer forecast second-quarter revenue of $1.6 billion to $1.65 billion.
Astera Labs plans to release its third-quarter results after the U.S. market closes Tuesday and hold an earnings call at 4:30 p.m. ET.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.