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TTM Technologies Soars 22.38% on Earnings Beat
Generated by AI AgentAinvest Movers Radar
Thursday, May 1, 2025 9:27 am ET1min read
On May 1, 2025,
surged 22.38% in pre-market trading, marking a significant rise in its stock price.TTM Technologies reported impressive first-quarter earnings and revenue surprises, with earnings exceeding expectations by 28.21% and revenue by 4.30%. The company's Q1 revenue saw a 14% year-over-year increase, driven by strong demand in key markets and advancements in AI. This performance surpassed the consensus estimate of 9%.
During the earnings call, TTM Technologies highlighted that its Q1 2025 revenue grew by 14% year-over-year, with a significant EPS beat of $0.50 against a forecast of $0.39. The company's net sales for the quarter were $648.7 million, up 14% year on year, with a GAAP net income of $32.2 million, or $0.31 per diluted share, and a non-GAAP net income of $52.4 million, or $0.50 per share.
Analysts at Needham raised their target price for TTM Technologies to $35, reflecting the company's strong financial performance and market outlook. The company's market capitalization stands at $2.03 billion, indicating robust investor confidence in its future prospects.
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