TTM Technologies Shares Soar 17% On Earnings Beat (TTMI)

TTM Technologies, Inc. TTMI announced after the market closed on Thursday that it easily beat consensus Wall Street estimates. The news sent the company's share price skyrocketing. TTM Technologies, Inc reported 3rd quarter adjusted net income of 43 cents per share, on revenue of $357.8 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 28 cents per share, on revenue of $350.22 million. President and CEO Kent Alder said, "By all measures our third quarter business performance was outstanding. We achieved record revenue and profitability, exceeding the guidance we provided for the quarter. The recently completed combination with Meadville has clearly been a transformative event for TTM. Integration is progressing well as evidenced by the strength of our results for the third quarter." TTM Technologies, Inc. (TTMI) closed Thursday trading at $11.40 per share, then jumped 17% to $13.34 during after hours trading. Analysts covering the company's stock give it a consensus price target of 14.00 per share. Read more from Benzinga's Company news.