Investing.com - IPG Photonics 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 Tuesday, November 2, 2021.
IPG Photonics shares lost 1.96% in pre-market trade 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 Tuesday, October 25, 2022 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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