For the quarter ended Dec. 1, the company reported earnings of $370.5 million, or 65 cents a share, compared with earnings of $175.2 million, or 31 cents a share, for the same period last year.
Revenue doubled to $1.67 billion from $835.1 million last year.
The results were ahead of Wall Street's expectations. Analysts were expecting earnings of 62 cents a share on revenue of $1.65 billion, according to consensus estimates from Thomson Financial.
- Basically Revenue doubled leading to doubling of earnings coupled with beating of estimates. Market likes it as indicated from the pre-market run-up. It closed yesterday at 106.99 and now it is close to 120. I will be adding this on my radar for a buy.
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