STEC gains on better-than-expected Q2 results and third-quarter guidance
Shares of STEC, Inc. (Nasdaq:STEC) are pushing higher in pre-market trading after the flash memory and DRAM technologies maker reported this morning that second-quarter revenues jumped 29%, beating the Street. Second-quarter earnings also managed to trump analysts’ estimates by a penny.
Adding to the robust financial update, the Santa Ana, Calif.-based company issued third-quarter revenues above the consensus on Wall Street and is forecasting earnings inline to above the Street for the next quarter.
Shares gained 10%, or $1.05, to $11.45 in pre-market trading. For detailed price information and recent news stories about STEC, click STEC.
