Astera Labs Inc (NASDAQ:ALAB) shares are soaring Wednesday after the company reported better-than-expected financial results for the second quarter and issued strong guidance.
What Happened: Astera Labs reported second-quarter revenue of $191.93 million, beating analyst estimates of $172.54 million, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 44 cents per share, beating estimates of 32 cents per share.
Total revenue was up 150% on a year-over-year basis amid a ramp in volume of the company’s PCIe 6 connectivity portfolio and expanding design wins of its Scorpio …