Investing.com - IPG Photonics (NASDAQ:IPGP) reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
IPG Photonics announced earnings per share of $1.47 on revenue of $349.01M. Analysts polled by Investing.com anticipated EPS of $1.16 on revenue of $367.98M.
IPG Photonics shares are up 10.2% from the beginning of the year, still down 52.55% from its 52 week high of $180.54 set on November 2, 2021.
IPG Photonics shares lost 1.96% in pre-market trade following the report.
IPG Photonics follows other major Information Technology sector earnings this month
IPG Photonics's report follows an earnings beat by Apple on Thursday, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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