Market Insider

Finisar shares jump after Q4 results beat expectations

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Shares of Finisar jumped more than 6 percent Friday after the company posted fourth quarter results that beat expectations.

The fiber-optic communications firm posted adjusted earnings per share of 29 cents, topping Reuters' expectations of 25 cents per share.

Revenue for the quarter was $318.8 million, above Wall Street's estimates of $317.4 million.

"This growth was primarily from increased demand for 40-gigabit per second and a 100-gigabit per second datacom transceivers," said the company's CEO, Jerry Rawls.

Finisar also forecast a strong first fiscal quarter, projecting revenue in a range of between $323 million and $343 million.

Finisar's stock has climbed in 2016, rising nearly 29 percent.

Finisar YTD