Why Plantronics Stock Skyrocketed Today

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Shares of Plantronics (NYSE: PLT), which now goes by the name Poly, have skyrocketed today, up by 24% as of 11:50 a.m. EST, after the company reported fiscal third-quarter earnings. It also issued a rosy forecast that impressed investors.

Adjusted revenue in the fiscal third quarter was $488 million, significantly above the consensus estimate of $430.7 million. That resulted in adjusted earnings per share of $1.47, crushing the $0.94 per share in adjusted profits that Wall Street analysts had been modeling for. The technology company continues to benefit in strong demand for professional headsets amid the ongoing shift to remote work that has been spurred by the COVID-19 pandemic.

Image source: Getty Images.

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