Why Itron Stock Soared 26% Higher Today
The company crushed analyst estimates for second-quarter profitability.
Overview
Smart meter and sensor specialist Itron (NASDAQ: ITRI) sure looked like a smart investment on Tuesday. The company's share price skyrocketed by more than 26% on a second-quarter earnings report that investors found more than pleasing.
That morning, Itron revealed that revenue for the period fell 7% year over year to $563 million. The company's bottom line also slumped, with net income not in accordance with generally accepted accounting principles (non-GAAP, or adjusted) sliding to $71 million ($1.59 per share) from $75 million.
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Originally published at www.fool.com.
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