- Earnings 12/21/17 (a/h)
Shares of SMART Global Holdings (NASDAQ: SGH) rose 10% on Friday after the specialty memory company announced stronger-than-expected quarterly results.
More specifically, for its first quarter of fiscal 2018, SMART Global's revenue climbed 67% year over year, to $265.4 million, and translated to adjusted (non-GAAP) net income of $23.8 million, or $1.05 per diluted share. Analysts, on average, were only expecting adjusted earnings of $0.92 per share on revenue of $255 million.
For its fiscal second quarter, SMART Global expects revenue in the range of $280 million to $300 million, and adjusted earnings per share of $1.30 to $1.36. Both figures handily outpaced Wall Street's consensus estimates for the current quarter, which called for adjusted earnings of $0.98 per share on revenue of $259.5 million.
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