Stock Roundup: Viavi Solutions Inc. (NASDAQ: VIAV)

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On Friday, Shares of Viavi Solutions Inc. (NASDAQ: VIAV) showed the bullish trend with a higher momentum of 0.53% to $13.24. The company traded total volume of 2,185,613 shares as contrast to its average volume of 2.29M shares. The company has a market value of $3.00B and about 226.79M shares outstanding.

Viavi Solutions Inc. (VIAV) stated fiscal second-quarter net income of $13.0M, after reporting a loss in the same period a year earlier. On a per-share basis, the San Jose, California-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The communications equipment company posted revenue of $306.90M in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $281.30M. For the current quarter ending in April, Viav Solutions anticipates its per-share earnings to range from 11 cents to 13 cents.

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The company said it anticipates revenue in the range of $247.0M to $267.0M for the fiscal third quarter.

The Company offered net profit margin of -3.80% while its gross profit margin was 55.60%. ROE was recorded as -5.50% while beta factor was 0.94. The stock, as of recent close, has shown the weekly upbeat performance of 4.33% which was maintained at 31.74% in this year.

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