Trimble Inc. (TRMB) exceeded market expectations with its second-quarter earnings and revenue report, leading to a rise in its share price on the Nasdaq by approximately 4.3%, reaching $51.95. In addition, the technology company provided an optimistic outlook for the third quarter and revised its fiscal 2024 guidance upward.For the third quarter, Trimble projects earnings per share (EPS) between $0.28 to $0.34, and adjusted EPS ranging from $0.58 to $0.64. Revenue is expected to fall between $840 million and $880 million. This is in line with analysts’ average projections, which forecasted EPS of $0.62 on revenue of $871.14 million (Thomson Reuters data).Regarding fiscal 2024, Trimble now anticipates generating EPS in the range of $6.41 to $6.54, with adjusted EPS between $2.67 and $2.81. The projected revenue is between $3.59 billion and $3.67 billion. This represents an upward adjustment from its previous guidance of adjusted EPS of $2.60 to $2.80 on revenue of $3.57 billion to $3.67 billion. Market analysts had set expectations for annual earnings at $2.73 per share, on revenues of $3.63 billion.In the second quarter, Trimble reported net income of $1.316 billion or $5.34 per share, significantly higher compared to $44.6 million or $0.18 per share in the same period last year. Adjusted earnings came in at $151.9 million or $0.62 per share, surpassing analysts’ expectations of $0.58 per share.Despite a 12.4% decline in revenue to $870.8 million from $993.6 million in the prior year, the reported revenue still exceeded analysts’ expectations, which were set at $862.5 million.The material has been provided by InstaForex Company – www.instaforex.com
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