Why Impinj Stock Is Soaring Today

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Shares of Impinj (NASDAQ: PI) are soaring today, up by 26% as of 11 a.m. EST, after the company announced preliminary fourth-quarter results. Revenue is expected to be significantly better than forecast.

Impinj said that revenue in the fourth quarter should exceed $36 million, well above its previous outlook of $26.5 million to $28.5 million in sales. The preliminary figure also crushes the consensus estimate of $27.76 million in revenue.

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