Why Calix Shares Are Climbing Higher After Hours

Calix Inc CALX shares are trading higher after hours on the heels of a better-than-expected earnings report that included strong guidance from the cloud platform company. 

The Details: Calix reported first-quarter revenue of $250.01 million, which beat consensus estimates of $245.59 million, according to data from Benzinga Pro. The company reported earnings per share of 31 cents, which beat estimates of 28 cents. 

Calix said it continued to see strong demand for its platform and managed services as the industry continued to acknowledge the power of its products.

"The across-the-board execution is perfectly timed as legacy 'dumb-pipe' service providers, who are cutting capital expenditures to support debt as their 'selling speed' strategy fails, are being disrupted by Calix platform-based BSPs," the company said in a letter to shareholders.

Calix sees second-quarter revenue of $255 million to $261 million versus estimates of $249.26 million. The company expects second-quarter earnings to be in a range of 28 cents to 34 cents per share versus estimates of 29 cents per share. 

Management will hold a conference call to discuss these results at 8:30 a.m. Thursday.

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CALX Price Action: Calix shares were up 10.9% after hours at $53.80 at last check, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.