TTM Technologies Inc's stock surged 7.41% during the night session, extending its recent upward momentum as investors responded positively to the company's latest financial performance and industry trends.
The company reported record-breaking first-quarter results with net sales surging 30% year-over-year to approximately $846 million, marking the highest quarterly revenue in its history. Non-GAAP diluted earnings per share jumped 50% year-over-year, while the book-to-bill ratio reached 1.41, signaling robust market demand for the company's products and services.
Additionally, TTM Technologies provided strong second-quarter guidance projecting net sales between $930 million and $970 million, exceeding market expectations. The positive sentiment was further supported by a broader recovery in the Electronic Manufacturing Services sector, with multiple industry peers also posting gains during the same period.