Exide Technologies Up 6% On Earnings Beat (XIDE)

Exide Technologies XIDE announced after the market closed on Thursday that it easily beat consensus Wall Street estimates, which sent its share price climbing. Exide Technologies reported 2nd quarter adjusted net income of 17 cents per share, on revenue of $668 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 2 cents per share, on revenue of $651.9 million. President and Chief Executive Officer Jim Bolch said, "I am pleased to report improved gross profit, lower operating expenses and higher unit volumes in our second quarter results. We expect continued improvement in the second half of our fiscal year as global markets strengthen, reflecting increased demand in substantially all channels." Exide Technologies (XIDE) closed Thursday trading at $6.56 per share, then rose 6.1% to $6.96 during after hours trading. Analysts covering the company's stock give it a consensus price target of $9.06per share. Read more from Benzinga's Company news.