Trimble stock up after sales, earnings top expectations
WESTMINSTER — Industrial technology company Trimble Inc. (Nasdaq: TRMB) saw its stock price rise in early trading Wednesday despite a year-over-year sales dip in the third quarter.
The likely reason: The company’s revenue and non-GAAP earnings per share exceeded Wall Street expectations.
Sales in the most recent quarter were $875.8 million, down 9% from the third quarter last year.
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Non-GAAP net income was $171.9 million in the third quarter of 2024, up from $170.2 million in the same quarter last year. Non-GAAP earnings per share in the most recent quarter were 70 cents, topping analyst estimates in the 56 cents to 64 cents range.
For the full-year 2024, Trimble expects to report revenue between $3.62 billion and $3.67 billion.
At noon on Wednesday, Trimble’s stock price was $70.87, up 15.01% on the day.
Industrial technology company Trimble Inc. (Nasdaq: TRMB) saw its stock price rise in early trading Wednesday despite a year-over-year sales dip in the third quarter.
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