Astera Labs (ALAB) late Tuesday handily beat analyst estimates for the third quarter and guided higher than views for the current period. ALAB stock rose in extended trading.
The San Jose, Calif.-based company earned an adjusted 49 cents a share on sales of $230.6 million in the September quarter. Analysts polled by FactSet had expected earnings of 39 cents a share on sales of $206.5 million. In the year-earlier period, Astera Labs earned 23 cents a share on sales of $113.1 million.
Astera Labs makes high-bandwidth, low-latency semiconductor-based connectivity systems for cloud computing and AI data centers.
For the current quarter, Astera Labs expects to earn an adjusted 51 cents a share on sales of $249 million. That’s based on the midpoint of its guidance. Wall Street was looking for earnings of 42 cents a share on sales of $216.8 million in the December quarter. In the fourth quarter last year, it earned an adjusted 37 cents a share on sales of $141.1 million.
Earnings report details to follow.
In after-hours trading on the stock market today, Astera Labs stock stock climbed more than 6% to 191. During the regular session Tuesday, ALAB stock dropped 6.4% to close at 179.31.
ALAB stock is on the IBD Tech Leaders list.
Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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