Vertiv stock rallies as data company beats profit expectation and hikes view

Vertiv Holdings LLC’s stock VRT, +4.67% was up by 10.4% in premarket trading on Wednesday after the digital infrastructure and power-management product maker’s third-quarter adjusted earnings of 52 cents a share beat the FactSet consensus estimate of 44 cents a share, although revenue of $1.74 billion narrowly missed the expectation of $1.75 billion.

“We are still in the early stages, but the industry is gearing up to deploy the data-center infrastructure needed to meet the compute capacity that AI is demanding,” Vertiv Chief Executive Giordano Albertazzi said. For the fourth quarter, Vertiv expects revenue of $1.83 billion to $1.85 billion, ahead of the analyst estimate of $1.82 billion. Vertiv is targeting adjusted fourth-quarter earnings of 48 cents a share to 52 cents a share, ahead of the Wall Street estimate of 47 cents a share.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

FMC Corp.’s stock drops on revenue warning as company launches cost structure reviewSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

RTX stock rallies after adjusted earnings beat Wall Street estimateSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »